Ariz. Admin. Code § 19-2-520

Current through Register Vol. 30, No. 44, November 1, 2024

Section R19-2-520 - Stored Value Instruments

A. Pari-mutuel cash vouchers. A racetrack permittee may offer pari-mutuel cash vouchers at a wagering location that issues pari-mutuel tickets.

1. Cash vouchers shall be dispensed through the totalisator system;

2. The stored value on a cash voucher may be redeemed in the same manner as a value of a winning pari-mutuel ticket for wagers placed at a pari-mutuel window or a self-service terminal, and may be redeemed for the cash value at any time;

3. The tote system transaction record for all pari-mutuel cash vouchers shall include the voucher identification number in subsequent pari-mutuel transactions; and

4. Pari-mutuel wagers made from a voucher shall include the voucher by identification number.

B. A racetrack permittee may, with prior approval of the Department, issue special pari-mutuel cash vouchers as incentives or promotional prizes, and may restrict the use of the special vouchers to the purchase of pari-mutuel wagers.

C. Other stored value instruments and systems. A racetrack permittee shall not, without the prior approval of the Department, use any form of stored value instrument or system other than a pari-mutuel cash voucher for making or cashing pari-mutuel wagers. A request for approval of a stored value instrument or system other than a pari-mutuel cash voucher shall include a detailed description of the standards used to:

1. Identify the specific stored value instrument or account in the pari-mutuel system wagering transaction record;

2. Verify the identity and business address of the person obtaining, holding, and using the stored value instrument or system; and

3. Record and maintain records of deposits, credits, debits, transaction numbers, and account balances involving the stored value instruments or accounts.

D. A stored value instrument or system:

1. Shall prevent a wagering transaction if the wagering transaction will create a negative balance in the account, and

2. Shall not operate to automatically facilitate a transfer of funds into a stored value instrument or account without direct authorization of each deposit transfer by the person holding the instrument or account.

E. A request for approval of a stored value instrument or system shall include:

1. An affirmation that records and reports relating to all transactions, account records, and customer identification and verification will be made available on request to the Department in both paper or and electronic form approved by the Department; and

2. Certification of secure retention of all records for the time specified in R19-2-502.

Ariz. Admin. Code § R19-2-520

New Section made by exempt rulemaking at 20 A.A.R. 2874, effective 10/10/2014.