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Can you summarize WVCS 179-09-5?
West Virginia Lottery Sports Wagering Rule > Internal controls; house rules.
Short Summary
This legal document, part of the West Virginia Code of State Rules, specifically the Lottery Commission’s rules for sports wagering, governs the requirements for internal controls and house rules in the operation of sports pool and online sports pool wagering systems. Sports pool operators are required to file internal controls with the Commission before commencing operations, which should address various aspects such as user access controls, segregation of duties, risk management procedures, fraud identification and reporting, prevention of wagering by prohibited participants, AML compliance standards, types of wagers offered, and integrated third-party systems. The internal controls should also detail the reconciliation of assets and documents in different components of the sports wagering system. In case of a failure to pay winning wagers by an online sports pool system, the licensee must have internal controls specifying the method of payment and file incident reports with the Commission. Casino licensees and sports pool intermediaries are required to adopt comprehensive house rules approved by the Director, covering topics such as calculation and payment of winning wagers, schedule changes, notifying patrons of odds or proposition changes, acceptance of wagers at non-posted terms, expiration of winning tickets, contacting the operator for questions and complaints, prohibited sports pool participants, and funding a sports wager. These house rules, along with other relevant information, must be displayed in the sports wagering lounge, posted on the operator’s website, and included in the terms and conditions of a sports wagering account, with copies readily available to patrons.
Whom does it apply to?
Sports pool operators, sports pool personnel, casino licensees, sports pool intermediaries
What does it govern?
Internal controls, house rules
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No specific penalties are mentioned.
Jurisdiction
West Virginia