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Can you summarize OHAC Chapter 3770:3-8?
State Lottery Commission | Sports Gaming > Type C Sports Gaming Prize Payment
Short Summary
This legal document, part of the Ohio Administrative Code, governs the operations and requirements for type C sports gaming proprietors in Ohio. It mandates that these proprietors maintain accurate and complete accounting and gaming records, following generally accepted accounting principles. The document also requires proper labeling of all submitted documents and compliance with relevant laws and requests from the tax commissioner. Additionally, it outlines the revenue audit procedures that must be documented and followed by type C sports gaming proprietors. The document further governs the collection of revenues from the sale of lottery sports gaming, specifying the intervals at which the director will collect these revenues. Type C sports gaming proprietors are required to deposit gross sports gaming revenues, after deducting compensation determined by the director, and may arrange for banking institutions to assist with revenue collection. The document also addresses the remittance of a percentage of gross sports gaming revenue to the lottery, depending on the operating system. It allows for carrying over negative adjusted gross receipts and requires agreements with licensed type C sports gaming hosts. Furthermore, the document establishes the prize payment process for type C sports gaming wagers, including the creation and redemption of credit and claim vouchers. It sets a redemption deadline of 180 days from the completion of the sports gaming event. Type C sports gaming proprietors have the option to negotiate lower prize payment thresholds with host locations and explore electronic player prize payments with director approval. Compliance with applicable laws regarding taxes, debts, obligations, and reporting requirements is emphasized. The document also addresses liability and discharges the Ohio lottery commission and its directors, commissioners, and employees from liability for type C sports gaming prize payments and misplaced or lost prize vouchers.
Whom does it apply to?
Type C sports gaming proprietors, players, and host locations
What does it govern?
Type C sports gaming proprietors, players, and host locations
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No specific penalties are mentioned.
Jurisdiction
Ohio