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Can you summarize NJAC 13:69Q-1.4?
FIXED ODDS WAGERING > Requirements for online fixed odds wagering accounts
Short Summary
This document outlines the requirements for establishing online fixed odds wagering accounts. It applies to patrons who wish to engage in online fixed odds wagering. To establish an account, a licensed wagering operator must create an electronic patron file containing the patron’s legal name, date of birth, Social Security number or equivalent identification, account number, residential address, email address, telephone number, and other information used to verify the patron’s identity. The operator must encrypt sensitive information such as Social Security numbers, passwords, and financial details. The patron’s identity must be verified either in-person or through remote multi-sourced authentication. The patron must establish a password or access security feature and certify the accuracy of the provided information. The operator must ensure the patron is of legal age and notify them of the account establishment. Each patron is limited to one account per licensed wagering operator. Various funding methods are allowed, and withdrawals can be made for fixed odds wagers, cash-outs, transfers to prepaid cards or bank accounts, and other approved means. The operator must provide account statements and summary statements of account activity upon request. The operator may need to reverify a patron’s identification if there is reasonable suspicion of compromise. Patrons can close their accounts, and any remaining balance will be refunded according to the operator’s internal controls.
Whom does it apply to?
Patrons who wish to engage in online fixed odds wagering
What does it govern?
Online fixed odds wagering accounts
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No specific penalties are mentioned.
Jurisdiction
New Jersey