§ 4-51-317. Applying for Licenses — Fees
An applicant for a license shall submit an application on a form, in such manner, and in accordance with such requirements as may be prescribed by rule of the board. An application for a license must include the following: The identification of the applicant’s principal owners who own five percent (5%) or more of the […]
§ 4-51-318. Restrictions on Licensees
A licensee shall not: Allow a minor to place a wager; Offer, accept, or extend credit to a bettor; Directly advertise or promote sports wagering to minors. The board shall adopt rules specific to the manner in which a licensee may advertise its business operations as authorized by this part; Offer or accept a wager […]
§ 4-51-319. Responsible Sports Wagering
Licensees shall allow bettors to restrict themselves from placing wagers with the licensee, including limits on the time spent betting and amounts wagered, and take reasonable steps to prevent those bettors from placing such wagers. At the request of a bettor, a licensee may share the request with the board for the sole purpose of […]
§ 4-51-320. Persons Prohibited From Obtaining Licenses
The following persons shall not apply for or obtain a license: A member or employee of the council, board, or corporation; An employee of any professional sports team; A coach of, or player for, a collegiate, professional, or Olympic sports team or sport; A person who is a member or employee of any governing body […]
§ 4-51-321. Transfer of Licenses
The board may adopt rules prescribing the manner in which a license may be transferred and a fee for the transfer of the license.
§ 4-51-322. House Rules — Acceptance of Wagers — Payouts
Each licensee shall adopt and adhere to a written, comprehensive policy outlining the house rules governing the acceptance of wagers and payouts. The policy and rules must be approved by the board prior to the acceptance of a wager by a licensee. The policy and rules must be readily available to a bettor on the […]
§ 4-51-323. Inspections
Members of the board or designated employees or agents of the corporation may, during normal business hours, enter the premises of any facility of a licensee or third party utilized by the licensee to operate and conduct business in accordance with this part for the purpose of inspecting books and records kept as required by […]
§ 4-51-308. Reports of Board
The board shall prepare and submit an annual report to the governor, the speaker of the senate, and the speaker of the house of representatives containing the following information: The number of active licensees; The aggregate gross and net revenue of all licensees; and The financial impact on this state and local governments as the […]
§ 4-51-309. Requirements for Escrow Account — Insurance — Cash-on-Hand
The board shall prescribe by rule: The amount of a bond in escrow and the amount of cash that must be kept on hand to ensure that there exists adequate reserves to pay off bettors; and Any insurance requirements for a licensee. The licensee may maintain the bond at any bank lawfully operating in this […]
§ 4-51-310. Financial Practices — Audits of Licensees — Post-Employment Restrictions
The board shall prescribe by rule: Minimum requirements by which each licensee must exercise effective control over its internal fiscal affairs, including, without limitation, requirements for: Safeguarding assets and revenues, including evidence of indebtedness; Maintenance of reliable records relating to accounts, transactions, profits and losses, operations, and events; and Global risk management; Requirements for internal […]