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Can you summarize Nevada GCCB Regulation 22?
Regulations of the Nevada Gaming Commission and Control Board > Regulation 22
Short Summary
The provided legal document content consists of regulations governing race books and sports pools in Nevada. The regulations cover various aspects, including the payment of winning wagers, the operation of parlay card wagers, the use of communications technology, the acceptance of wagers, the prevention of circumvention of wagering limits, and the establishment of minimum reserve requirements. The regulations require books to make payment on winning wagers to the person who presents the patron’s copy of the betting ticket. Books are not obligated to make payment to individuals who are not the intended recipients of the ticket or who are collecting on behalf of others for monetary gain or in violation of federal law. Books may also withhold payment if the patron refuses to provide identification or necessary documentation. The regulations outline provisions for payment at affiliated books, honoring winning betting tickets for a specified period, and the use of nationally televised broadcasts to determine winners and payouts on wagers. The regulations also establish rules for parlay card wagers, including disclosure requirements, the use of point spreads, and limitations on aggregate payouts. Books are required to create and maintain records and reports as specified by the Chair and comply with all other applicable regulations of the Commission. The regulations also address the installation and use of communications technology in race books and sports pools, requiring written approval from the Chair and providing the Chair with authority to require the removal of any communications technology. The regulations further specify the requirements for accepting wagers, including acceptable forms of payment, limitations on accepting wagers on predetermined outcomes, and the need for reliable sources or records to determine outcomes. The regulations also prohibit the circumvention of wagering limits and provide guidelines for preventing and recording structured wagers. Additionally, the regulations establish minimum reserve requirements for books offering race books and sports pools. Books must maintain a reserve of at least $25,000 or the sum of amounts held for patrons, amounts accepted as wagers on undetermined outcomes, and amounts owed on winning wagers. Overall, these regulations ensure fair and lawful practices in the operation of race books and sports pools in Nevada.
Whom does it apply to?
Books offering race books and sports pools in Nevada
What does it govern?
Regulations governing race books and sports pools in Nevada
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No specific penalties are mentioned.
Jurisdiction
Nevada