S.D. Admin. R. 20:18:35:11

Current through Register Vol. 51, page 57, November 12, 2024

Section 20:18:35:11 - Wagering rules

A licensee or sports wagering services provider shall adopt comprehensive wagering rules, that must be approved by the commission to be effective.

The wagering rules, together with any other information the commission considers appropriate, must be conspicuously displayed on the licensee's or its sports wagering services provider's digital platform or mobile application, included in the terms and conditions of wagering accounts, and copies must be made readily available to individuals and patrons.

The wagering rules must address the following items regarding sports bets:

(1) Types of sports bets accepted;

(2) Minimum and maximum sports bets;

(3) Description of the process for handling incorrectly posted events, odds, sports bets, or results;

(4) Method for calculation and payment of winning sports bets;

(5) Effect of schedule changes;

(6) Method of notifying patrons of odds or proposition changes;

(7) Acceptance of sports bets at other than posted terms;

(8) Procedures related to pending, winning sports bets;

(9) Method of contacting the licensee or sports wagering services provider for questions and disputes pursuant to § 20:18:12.01:07;

(10) Description of prohibited persons and events and wager types on which sports bets may not be accepted under SDCL chapter 42-7 B and this chapter;

(11) Methods of funding a wager;

(12) Maximum payouts established by limiting the amount of a sports bet and not applied to reduce the amount paid to a patron as a result of a winning sports bet;

(13) A policy that the licensee or sports wagering services provider can cancel sports bets for obvious errors pursuant to the licensee's or sports wagering services provider's internal controls, that must include a definition and procedures for obvious errors;

(14) Parlay bet related rules;

(15) Rules and procedures for wagering communications;

(16) What is to occur when an event or any component of an event on which sports bets are accepted is canceled; and

(17) Any other wagering rule-related information the commission determines necessary.

Amendments to the wagering rules must be approved by the commission to be effective. Failure by a licensee to act in accordance with the wagering rules may result in disciplinary action.

S.D. Admin. R. 20:18:35:11

48 SDR 014, effective 8/22/2021

General Authority: SDCL 42-7B-7, 42-7B-11(13).

Law Implemented: SDCL 42-7B-2.1(1), 42-7B-15, 42-7B-43.