Md. Code Regs. 36.10.13.27

Current through Register Vol. 51, No. 21, October 18, 2024

Section 36.10.13.27 - Bettor Deposits

A. A sports wagering licensee may establish a customer deposit account for a bettor to enable the bettor to take part in sports wagering.

B. A sports wagering licensee shall perform all procedures required by this chapter before depositing funds accepted by means of check, wire transfer, cash equivalent, or other negotiable instrument into a customer deposit account.

C. If applicable, a sports wagering licensee may accept a customer deposit only during the hours of operation approved by the Commission for the facility under COMAR 36.10.15.02.

D. A sports wagering licensee shall develop and include in the internal controls submitted to and approved by the Commission under Regulation .04 of this chapter procedures addressing the acceptance of customer deposits meeting the requirements of this regulation.

E. A sports wagering licensee's internal controls shall:

(1) Require acceptance of customer deposits at the cashiers' cage or by any other means as approved by the Commission;

(2) Require preparation of a receipt documenting:

(a) Amount deposited;

(b) Date of the deposit; and

(c) If applicable, the signature of the general cashier accepting the customer deposit;

(3) Provide for full or partial withdrawal of a customer deposit:

(a) By a bettor at the cashiers' cage or by any other means as approved by the Commission; or

(b) Upon receipt by the sports wagering licensee of a written request for withdrawal for which validity has been established; and

(4) Include procedures for documenting acceptance and withdrawal of customer deposits including a verification of the authenticity of a bettor's signature on a customer deposit withdrawal document in conformance with the signature authentication procedures in Regulation .24 of this chapter.

Md. Code Regs. 36.10.13.27

Amended effective 49:1 Md. R.16, eff. 1/13/2022