Md. Code Regs. 36.10.13.32

Current through Register Vol. 51, No. 17, August 23, 2024

Section 36.10.13.32 - Wager Payouts

A. A sports wagering licensee shall prepare and timely file IRS Form W-2G, Certain Gambling Winnings, in accordance with IRS rules and regulations.

B. A sports wagering licensee shall pay a sports wager payout of $50,000 or more:

(1) By cash or check; or

(2) On the request of a bettor, any combination of cash, sports wagering ticket or voucher, check, or other method of payment approved by the Commission.

C. A sports wagering licensee shall develop procedures to obtain personal identifying information from any individual who places any single wager in an amount of $10,000 or greater on a sporting event while physically present in a facility.

D. To ensure compliance with §C of this regulation, a sports wagering licensee shall, prior to accepting any sports wager in excess of $3,000 or making a payout in excess of $3,000 on a winning sports wager:

(1) Create a bettor identification file and identify the bettor;

(2) Obtain and record the bettor's Social Security number in the bettor identification file; and

(3) Record, on a log, the following information:

(a) Date of the wager or payout;

(b) Name of the bettor;

(c) Name and signature of the sports wagering employee authorizing the acceptance of the wager; and

(d) Name and signature of the sports wagering employee identifying the bettor and generating the sports wagering ticket or making the payout.

E. A sports wagering licensee shall monitor for and report all suspicious activity related to sports wagering transactions.

Md. Code Regs. 36.10.13.32

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