205 CMR, § 238.27

Current through Register 1537, December 20, 2024

Section 238.27 - Prohibition of Credit Extension

A system of Internal Controls submitted by a Sports Wagering Operator in accordance with 205 CMR 238.02 shall include controls relating to the prohibition of a Sports Wager, issuance of cash, or deposit of funds into a Sports Wagering Account that is derived from the extension of credit by affiliates or agents of the Sports Wagering Operator pursuant to M.G.L. c. 23N, § 4(d)(2)(viii). For purposes of 205 CMR 238.27, credit shall not be deemed to have been extended where, although funds have been deposited into a Sports Wagering Account, the Sports Wagering Operator is awaiting actual receipt of such funds in the ordinary course of business.

(1) Credit providers such as small amount credit contracts (payday lending) shall not be advertised or marketed to patrons.

(2) A patron shall not be referred to a credit provider to finance their Sports Wagering activity.

(3) Confidential Information and Personally Identifiable Information related to a patron shall not be provided to any credit provider.

205 CMR, § 238.27

Adopted by Mass Register Issue 1486, eff. 12/21/2022 (EMERGENCY).

Amended by Mass Register Issue 1492, eff. 3/9/2023 (EMERGENCY).

Amended by Mass Register Issue 1494, eff. 3/9/2023 (COMPLIANCE).

Amended by Mass Register Issue 1498, eff. 6/7/2023 (EMERGENCY).

Amended by Mass Register Issue 1503, eff. 6/7/2023 (COMPLIANCE).