24 NCAC 06B .0306          Contents of Wagering Rules

The Wagering Rules, required by Rule .0501 of Subchapter A, shall address the following items regarding Wagers:

(1)           types of Wagers accepted;

(2)           minimum and maximum Wagers;

(3)           the method for calculation and payment of winning Wagers;

(4)           the effect of schedule changes for a Wagering Event;

(5)           the method of notifying Players of odds or proposition changes;

(6)           acceptance of Wagers at terms other than those posted;

(7)           circumstances under which the Operator will void a Wager; and

(8)           treatment of errors, late bets, and related contingencies;

(9)           description of the process for handling incorrectly posted Wagering Events, odds, Wagers, or results;

(10)         procedures related to pending winning Wagers;

(11)         method of contacting the Operator for questions and disputes;

(12)         description of Ineligible Persons;

(13)         methods of funding a Wager;

(14)         maximum payouts; however, limits shall only be established through limiting the amount of a Wager and cannot be applied to reduce the amount paid to a Player as a result of a winning Wager;

(15)         a policy, in accordance with Rule .0307 of this Subchapter, by which the Operator may cancel Wagers for obvious errors pursuant to the Operator's Internal Controls, which shall include a definition and procedures for obvious errors;

(16)         parlay Wager related rules;

(17)         what is to occur when an event or a component of an event on which Wagers are accepted is canceled, including the handling of Wagers with multiple selections, for example parlays, where one or more of these selections is canceled; and

(18)         other rule and related information the Commission or Director determines is required.

History Note:        Authority G.S. 18C-114(a)(14);

Previously adopted as Rule 2C-006;

Eff. January 8, 2024;

Readopted Eff. March 27, 2024.