N.J. Admin. Code § 13:69Q-1.2

Current through Register Vol. 56, No. 21, November 4, 2024

Section 13:69Q-1.2 - General requirements for retail fixed odds wagering

(a) A race track or licensed wagering operator offering fixed odds wagering on authorized horse racing events shall maintain a cash reserve of not less than the greater of $ 100,000 or the amount necessary to ensure the ability to cover the outstanding fixed odds wagering liability.

(b) A licensed wagering operator shall investigate each patron complaint and provide a response to the patron within five calendar days. For complaints that cannot be resolved to the satisfaction of the patron and which are related to patron accounts, settlement of wagers, and/or illegal activity, a copy of the complaint and licensee's response, including all relevant documentation, shall be provided to the Racing Commission.

(c) A licensed wagering operator offering retail fixed odds wagering at an authorized race track shall use:

1. Totalisator equipment approved by the Racing Commission that has been demonstrated to be capable of accepting fixed odds wagers and providing to patrons a wagering ticket accurately reflecting the patron's wager. Such totalisators shall be located in a secure location approved by the Division and shall have windows and counters approved by the Division; and

2. A kiosk submitted to and approved by the Division for use in fixed odds wagering. Such kiosks shall be located within a race track in locations approved by the Racing Commission as suitable for wagering.

(d) Receipts from retail fixed odds wagering shall be transported to a secure location approved by the Division for counting. Transportation to the location and the count shall be set forth in internal controls created by the licensed wagering operator.

(e) Licensed wagering operators shall comply with all State and Federal laws, rules, regulations, and standards regarding currency transaction reports, anti-money laundering protocols, and the filing of suspicious activity reports.

(f) Licensed wagering operators shall ensure that any patron wagering or collecting winnings in excess of $ 10,000 shall not wager or collect winnings without providing his or her name, taxpayer ID number, and other personally identifiable information.

(g) Winning wagering tickets shall be redeemed by a ticket writer, or at a kiosk, after verifying the validity of the wagering ticket through the fixed odds wagering system. The ticket writer or kiosk shall cause the system to electronically redeem and cancel the wagering ticket upon redemption. Winning tickets shall expire if not redeemed within one year of the determination of the wager being a winner and shall be subject to (u) below.

(h) A retail fixed odds wagering system shall be capable of recording the following information for each wager made:

1. A description of the event;

2. The wager selection;

3. The type and odds of the wager;

4. The amount of the wager and the potential payout;

5. The date and time of the wager;

6. A unique wager identifier, which shall be masked on all system menus, printed reports, and displays for all unredeemed and unexpired wagers; and

7. Notice of when the ticket expires.

(i) In addition to the information at (h) above, all tickets generated by a cashier or at a kiosk shall include the following:

1. The name and address of the operator issuing the ticket;

2. A barcode, or similar symbol or marking, as approved by the Division, corresponding to the unique wager identifier;

3. Notice to the patron of all methods of redeeming a winning ticket; and

4. Identification of the cashier or kiosk generating the ticket.

(j) For all lost tickets that are redeemed, a fixed odds wagering system shall record and maintain the following information:

1. The date and time of redemption;

2. The employee responsible for redeeming the ticket;

3. The name of patron redeeming the ticket;

4. A unique ticket identifier; and

5. The location of the redemption.

(k) A retail fixed odds wagering system shall be capable of recognizing valid wagering tickets that contain a duplicate unique wager identifier used for redemption and require the redemption by a ticket writer rather than at a kiosk.

(l) A retail fixed odds system shall be capable of preventing the redemption of any wagering tickets previously redeemed or tickets in which the data related to the tickets has been manually altered in an unauthorized manner.

(m) If a winning fixed odds wagering ticket is unclaimed for a period of one year after the last event wagered upon, the obligation to pay the patron shall expire. No later than the 15th of each month, a retail fixed odds wagering operator shall pay, to the Division, all unclaimed winnings from the month prior. For example, wagering tickets expiring in January 2023 shall be paid to the Division no later than February 15, 2023.

(n) Retail fixed odds patron wagers shall be made with the following; however, nothing shall require a licensed wagering operator to accept all of the methods listed at (n)1 through 6 below. The operator shall provide conspicuous notice to patrons of the methods of payment it chooses to accept and shall include such methods in its internal controls:

1. Cash;

2. Cash equivalent;

3. Credit or debit card;

4. Gift cards;

5. Promotional funds; and/or

6. Any other means approved by the Racing Commission for use in making parimutuel wagers.

(o) Licensed wagering operators shall be prohibited from offering credit to patrons. This will not prohibit a licensed wagering operator from offering a branded gift card or branded credit or debit card to patrons.

(p) Licensed wagering operators shall set fixed odds available to patrons for wagering. In determining odds offered to patrons, licensed wagering operators may employ one or more individuals who shall be deemed officers of the licensed wagering operators. Licensed wagering operators may also employ the services of a third party to recommend odds to be offered. Such oddsmaker entities shall be deemed as fixed odds vendors and shall be registered with the Division as set forth at N.J.A.C. 13:69Q-1.7. The Director shall have discretion at all times to call forward such registrants to a higher level of licensure.

(q) Licensed wagering operators shall offer fixed odds wagers only on races approved by the Racing Commission as suitable for parimutuel wagers.

1. If an event that originates within New Jersey is approved for parimutuel wagering, it can be offered for fixed odds wagering by all licensed wagering operators.

2. If an event originates outside New Jersey, it may be offered for fixed odds wagering provided the licensed wagering operator complies with all applicable laws, including the Interstate Horseracing Act, and further provided that the licensed wagering operator has received the consent of the track offering the event.

(r) Licensed wagering operators shall offer fixed odds wagering to patrons 18 years of age or older and who are not self-excluded pursuant to any list maintained by the Racing Commission.

(s) A licensed wagering operator shall not unilaterally void any wager without the consent of the Division.

(t) Fixed odds wagers shall not be subject to any adjustment of odds once a wager is made by a patron and accepted by an operator. However, licensed wagering operators may recalculate the starting post price at any time prior to the start of a race. Operators may make fixed odds wagers unavailable and offer only the starting post price to patrons during the time period when odds are being recalculated due to scratches or other events. Operators may, in their discretion, offer a best odds guarantee.

N.J. Admin. Code § 13:69Q-1.2

Adopted by 53 N.J.R. 2081(a), effective 11/3/2021

Amended by 55 N.J.R. 1839(a), effective 8/21/2023