24 NCAC 06B .0311          Exchange Wagering and Other Peer-to-Peer Wagering

Prior to offering Exchange Wagering or other peer-to-peer Wagering, an Operator shall obtain approval from the Director.

(1)           The Rake taken on these Wagers shall be considered, without any deductions therefrom, Gross Wagering Revenue and is subject to tax requirements outlined in the Act and these Rules.

(2)           One or more Operators may, with prior approval of the Commission, participate in a Sports Wagering Network in accordance with a written agreement that has been executed by the Operators. The agreement shall:

(a)           designate the party responsible for the operation and administration of the network;

(b)           identify and describe the role, authority, and responsibilities of the participating Operators;

(c)           include a description of the process by which significant decisions that affect the operation of the network are approved and implemented by the participating Operators; and

(d)           allocate the Gross Wagering Revenue and tax liability between the participating Operators to ensure the accurate reporting thereof.

(3)           Parties to an agreement to participate in a Sports Wagering Network as set forth in Subparagraph (a)(2) of this Rule shall be jointly and severally liable for acts or omissions in violation of the Act, these Rules, or the policies of the Commission.

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

Previously adopted as Rule 2C-011;

Eff. January 8, 2024;

Readopted Eff. March 27, 2024.