Md. Code Regs. 36.10.14.05

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

Section 36.10.14.05 - Funding Wagers

A. A bettor's sports wagering account may be funded by:

(1) A cash deposit made directly with a sports wagering licensee;

(2) A cash equivalent, personal check, or wire transfer made directly or mailed to the sports wagering licensee;

(3) A bettor's debit card or prepaid card;

(4) A bettor's deposit of a winning sports wagering ticket at a sports wagering facility approved by the Commission;

(5) A cash complimentary, promotional credit, or bonus credit;

(6) If there is documented notification to the bettor, an adjustment made by a sports wagering licensee following the resolution of a dispute; or

(7) Any other means as approved by the Commission.

B. ACH Transfer.

(1) If a sports wagering licensee has security measures and controls approved by the Commission to prevent and detect fraud, it may accept an ACH transfer to fund a wager.

(2) If a bettor has successfully deposited funds through an ACH transfer on a previous occasion with no outstanding chargebacks, a sports wagering licensee is not required to consider one failed ACH deposit attempt as fraudulent.

(3) If a sports wagering licensee suspects fraud after a bettor's multiple failed ACH deposit attempts, the sports wagering licensee:

(a) May temporarily freeze or suspend the bettor's account to investigate; and

(b) If the sports wagering licensee determines that fraud has been attempted or occurred, suspend the bettor's account.

C. A sports wagering licensee may not:

(1) Extend credit to a bettor; or

(2) Allow the deposit of funds into a sports wagering account that are derived from the extension of credit by an affiliate or agent of the sports wagering licensee.

D. A bettor's sports wagering account:

(1) May not have a negative account balance; and

(2) May not accept a wager if the account does not have funds sufficient to pay for the wager.

E. The sports wagering licensee shall update bettor account balances after each bet settles to reflect the funds available for any future wagers the bettor may choose to place.

F. Adjustment to a sports wagering account for an amount of $500 or under shall be periodically reviewed by supervisory personnel as set forth in the sports wagering licensee's internal controls.

G. Supervisory personnel shall authorize an adjustment for an amount above $500 before the adjustment may be entered into the bettors' account.

Md. Code Regs. 36.10.14.05

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