§ 624. Reports
(a) A licensee shall file with the Commission and the Master Service Provider within fifteen (15) business days any changes in information provided in a licensee’s application and any other changes prescribed by the Commission. (b) A licensee shall file with the Commission and the Master Service Provider, within ten (10) days after the end […]
§ 625. Change of control
(a) A person or group of persons that proposes to acquire control shall give written notice to the Commission and the Master Service Provider and request approval of the acquisition and also submit a nonrefundable fee of $10,000 to the Commission or the cost of the investigation whichever is greater. (b) After review of the […]
§ 616. Licensee not to provide credit
A licensee shall not provide credit to a player. Players shall be required to deposit money prior to playing any approved Internet game or approved Internet gambling by payment in advance, credit or debit card, wire transfer, check, money order, or Internet funds. Notwithstanding the provisions of any law to the contrary, payments made to […]
§ 617. Inactive players
If no transaction has been recorded on behalf of a player for a period of one (1) year, the licensee shall remit any funds held on behalf of the player to the player or, if the player cannot be located, such funds shall be paid into the Virgin Islands Education Initiative Fund established pursuant to […]
§ 618. Limitation on wagers
(a) A registered player may, by notice to a licensee, set a limit on the amount the player may wager. (b) A player who has set a limit pursuant to this section may amend or revoke the limit on wagers by written notice given to the licensee. (c) A notice increasing or revoking the limit […]
§ 619. Self-exclusion order
(a) If a person or player gives written notice to a licensee to the effect that the person or player is not to be permitted to play an approved Internet game or approved Internet gambling conducted by the licensee, the licensee shall: (1) Forward a copy of the notice to Commission and the Master Service […]
§ 620. Claims for prizes
(a) If a claim for a prize in an approved Internet game or approved Internet gambling is made to a licensee within one (1) year after the end of the approved Internet game or approved Internet gambling or, the licensee after immediate notification to the Commission shall: (1) immediately attempt to resolve the claim; and […]
§ 611. Reserves
In order to assure the licensee’s ability to meet its obligations to players, the Commission shall establish the necessary amounts of funds to be segregated in a manner that they are bankruptcy remote and accessible by the Commission to pay players’ claims.
§ 612. Returns to players
The Commission shall ensure that approved Internet games and approved Internet gambling of each licensee is audited and certified by a licensed auditor approved by the Commission to ensure that the payout to players is commensurate with the odds of the game played. The licensee shall be responsible for the total costs associated with this […]
§ 613. Gaming and gambling tax; distribution of fees
(a) Notwithstanding the provisions of Article XI of this chapter, and in lieu of taxes and fees imposed pursuant to such Article, the Master Service Provider and the licensees shall pay taxes to the Casino Revenue Fund on Gross Service Provider Revenues, gross Internet gaming and Internet gambling revenue as applicable and in accordance with […]