Mich. Admin. Code R. 432.748

Current through Vol. 24-22, December 15, 2024

Section R. 432.748 - House rules

Rule 748.

(1) A sports betting operator or internet sports betting platform provider must adopt comprehensive house rules, which must be approved by the board. The house rules must address the following items regarding internet sports betting wagers, at a minimum:

(a) Types of internet sports betting wagers accepted.

(b) Minimum and maximum internet sports betting wagers.

(c) Description of the process for handling incorrectly posted events, odds, internet sports betting wagers, or results.

(d) Method for calculation and payment of winning internet sports betting wagers.

(e) Effect of schedule changes.

(f) Method of notifying authorized participants of odds or proposition changes.

(g) Acceptance of internet sports betting wagers at other than posted terms.

(h) Procedures related to pending winning internet sports betting wagers.

(i) Method of contacting the sports betting operator or internet sports betting platform provider for questions and complaints.

(j) Description of prohibited persons and events and wager types on which internet sports betting wagers may not be accepted under the act and these rules.

(k) Methods of funding a wager.

(l) Maximum payouts; however, such limits must only be established through limiting the amount of an internet sports betting wager and cannot be applied to reduce the amount paid to an authorized participant as a result of a winning internet sports betting wager.

(m) A policy by which the sports betting operator or internet sports betting platform provider can cancel internet sports betting wagers for obvious errors pursuant to the sports betting operators or internet sports betting platform providers internal controls, which must include a definition and procedures for obvious errors.

(n) Parlay wager related rules.

(o) Rules and procedures for wagering communications.

(p) Any other house rule related information the board determines necessary.

(2) The house rules must clearly state what is to occur when an event or any component of an event on which internet sports betting wagers are accepted is canceled, including the handling of internet sports betting wagers with multiple selections, such as parlays, where one or more of these selections is canceled.

(3) The house rules, together with any other information the board considers appropriate, must be conspicuously displayed on the sports betting operators and its internet sports betting platform providers internet sports betting website or internet sports betting platform, included in the terms and conditions of internet sports betting accounts, and copies must be made readily available to individuals and authorized participants.

(4) Amendments to the house rules must be approved by the board. Failure by a licensee to act in accordance with the house rules may result in disciplinary action.

Mich. Admin. Code R. 432.748

2020 MR 22, Eff. 12/2/2020