N.Y. PML Law § 1012 — New York Code / Act PML / Article 10 / Section 1012
Account wagering
Status: in_force

§ 1012. Account wagering. Racing associations and corporations,\nfranchised corporations, off-track betting corporations and\nmulti-jurisdictional account wagering providers may apply to the\ncommission to be licensed to offer account wagering.\n  1. Racing associations and corporations, franchised corporations,\noff-track betting corporations and multi-jurisdictional account wagering\nproviders may form partnerships, joint ventures, or any other\naffiliations or contractual arrangement in order to further the purposes\nof this section. Multi-jurisdictional account wagering providers\ninvolved in such joint affiliations or contractual arrangements shall\nfollow the same distributional policy with respect to retained\ncommissions as a multi-jurisdictional account wagering provider defined\nin this article.\n  2. The commission shall promulgate rules and regulations to license\nand regulate all phases of account wagering.\n  3. The commission shall specify a non-refundable application fee which\nshall be paid by each applicant for an account wagering license or\nrenewal thereof.\n  4. Account wagering licensees shall utilize personal identification\nnumbers and such other technologies as the commission may specify to\nassure that only the account holder has access to the advance deposit\nwagering account.\n  5. Account wagering licensees shall provide for: a. withdrawals from\nthe wagering account only by means of a check made payable to the\naccount holder and sent to the address of the account holder or by means\nof an electronic transfer to an account held by the verified account\nholder or b. that the account holder may withdraw funds from the\nwagering account at a facility approved by the commission by presenting\nverifiable personal and account identification information.\n  6. Account wagering licensees may engage in interstate wagering\ntransactions only where there is compliance with chapter fifty-seven of\ntitle fifteen of the United States code, commonly referred to as the\n"interstate horse racing act".\n  7. The account holder's deposits to the wagering account shall be\nsubmitted by the account holder to the account wagering licensee and\nshall be in the form of one of the following: a. cash given to the\naccount wagering licensee; b. check, money order, negotiable order of\nwithdrawal, or wire or electronic transfer, payable and remitted to the\naccount wagering licensee; or c. charges made to an account holder's\ndebit or credit card upon the account holder's direct and personal\ninstruction, which instruction may be given by telephone communication\nor other electronic means to the account wagering licensee or its agent\nby the account holder if the use of the card has been approved by the\naccount wagering licensee.\n  8. a. Each wager shall be in the name of a natural person and shall\nnot be in the name of any beneficiary, custodian, joint trust,\ncorporation, partnership or other organization or entity.\n  b. A wagering account may be established by a person completing an\napplication form approved by the commission and submitting it together\nwith a certification, or other proof, of age and residency. Such form\nshall include the address of the principal residence of the prospective\naccount holder and a statement that a false statement made in regard to\nan application may subject the applicant to prosecution.\n  c. The prospective account holder shall submit the completed\napplication to the account wagering licensee. The account wagering\nlicensee may accept or reject an application after receipt and review of\nthe application and certification, or other proof, of age and residency\nfor compliance with this section.\n  d. No person other than the person in whose name an account has been\nestablished may issue wagering instructions relating to that account or\notherwise engage in wagering transactions relating to that account.\n  9. A wagering account shall not be assignable or otherwise\ntransferable.\n  10. Except as otherwise provided in this article or in regulations\nwhich the commission may adopt pursuant thereto, all account wagers\nshall be final and no wager shall be canceled by the account holder at\nany time after the wager has been accepted by the account wagering\nlicensee.\n  11. Dormant accounts shall be treated as abandoned property pursuant\nto section three hundred of the abandoned property law.\n  12. Account wagering providers must possess appropriate totalizator\nand accounting controls that will safeguard the transmission of wagering\ndata and will keep a system of accounts which will maintain a separate\nrecord of revenues and an accounting of costs relative to the operation\nof the wagering provider.\n  13. Wagers placed with the account wagering providers shall result in\nthe combination of all wagers placed with such provider with the\nwagering pools at the host track so as to produce common pari-mutuel\nbetting pools for the calculation of odds and the determination of\npayouts from such pools, which payout shall be the same for all winning\ntickets, irrespective of whether a wager is placed at a host track or at\nan account wagering provider.\n  14. Any account wagering licensee may require a minimum account\nbalance in an amount to be determined by such entity.\n  15. a. Any regional off-track betting corporation may suspend\ncollection of the surcharge imposed under section five hundred\nthirty-two of this chapter on winning wagers placed in wagering accounts\nmaintained by such regional corporation.\n  b. In a city of one million or more any regional off-track betting\ncorporation, with the approval of the mayor of such city, may suspend\ncollection of the surcharge imposed under section five hundred\nthirty-two of this chapter in winning wagers placed in wagering accounts\nmaintained by such regional corporation.\n  16. The maintenance and operation of such wagering accounts provided\nfor in this section shall be subject to rules and regulations of the\ncommission. The commission shall include in such regulation a\nrequirement that wagering account information pertaining to surcharge\nand nonsurcharge wagering accounts shall be separately reported.\n  17. For the purposes of this section, "telephone wagering accounts"\nshall mean and include all those wagers which utilize any wired or\nwireless communications device, including but not limited to wireline\ntelephones, wireless telephones and the internet to transmit the\nplacement of wagers on races and special events offered by any regional\noff-track betting corporation, and any harness, thoroughbred, quarter\nhorse racing association or corporation licensed or franchised to\nconduct pari-mutuel racing in this state.\n  18. Every racing association, off-track betting corporation,\nfranchised corporation, harness, thoroughbred, quarter horse racing\nassociation or corporation or other entity licensed or franchised in\nthis state to conduct pari-mutuel racing and wagering, or authorized to\nconduct races within the state, which operates a wagering account for\nthe acceptance of wagers, shall locate the call center where such wagers\nare received within the state of New York.\n