2023 Vermont Statutes › Title 31 - Recreation and Sports › Chapter 25 - Sports Wagering › § 1303. Procedures

§ 1303. Procedures
(a)(1) The Board shall adopt procedures pursuant to 3 V.S.A. § 835 to govern the establishment and operation of any sportsbook authorized by this chapter. For each procedure proposed to be adopted or amended pursuant to this section, the Board shall publish the proposal on the Department of Liquor and Lottery’s website, provide notice of the proposal to all operators, provide not less than 30 days for public comment on the proposal, and hold not less than two public hearings at which members of the public may seek additional information or submit oral or written comments on the proposal.
(2) The Board shall not be required to initiate rulemaking pursuant to 3 V.S.A. § 831(c) in relation to a procedure adopted pursuant to this section.
(3) A procedure adopted pursuant to this section shall have the force of law and be binding on all persons who play or offer sports wagering within the State.
(b) The Board shall adopt procedures pursuant to this section that govern the following minimum standards for the Department’s operators:
(1) minimum computer system security, including:
(A) documented system security testing performed by a licensed third-party contractor approved by the Department;
(B) unique identification and verification systems for wagers;
(C) procedures to prevent past posting of wagers;
(D) minimum data that must be recorded relating to each wager;
(E) system redundancy to ensure recording of wagers during a system outage; and
(F) integration with an independent control system to ensure integrity of system wagering information;
(2) sports wagering system requirements that meet or exceed Gaming Laboratories International’s GLI-33: Standards for Event Wagering Systems, and its appendices, as amended or modified;
(3) minimum house rules, including:
(A) the method for calculation and payment of winning wagers;
(B) the effect of schedule changes for a sports event;
(C) the method of notifying bettors of odds or proposition changes;
(D) acceptance of wagers at terms other than those posted;
(E) circumstances under which the operator will void a bet; and
(F) treatment of errors, late bets, and related contingencies;
(4) minimum accounting controls, including:
(A) processes for recording the collection of wagers, payment of wagers, and cancellation of wagers issued; and
(B) requirements for an annual audit of accounting controls;
(5) minimum internal control standards;
(6) minimum cash reserves to be maintained by each operator; and
(7) promotional play requirements that:
(A) require each operator to provide unambiguous notice of the:
(i) date and time the promotion or bonus is active and expires;
(ii) rules of play;
(iii) nature and value of prizes or awards;
(iv) eligibility restrictions or limitations;
(v) wagering and redemption requirements, including any limitations;
(vi) eligible events or wagers;
(vii) cancellation requirements; and
(viii) terms and conditions that are full, accurate, concise, transparent, and do not contain misleading information;
(B) prohibit promotions or bonuses from being described as free or risk-free if those promotions or bonuses require the player to incur any loss or risk the player’s own money to use or withdraw winnings from the free wager;
(C) prohibit the operator from restricting the player from withdrawing the player’s own funds or withdrawing winnings from wagers placed using the player’s own funds;
(D) ensure that the promotion or bonus rules shall be available to patrons and the Department; and
(E) require operators to adopt procedures for the issuance, acceptance, and tracking of promotions or bonuses. (Added 2023, No. 63, § 1, eff. June 14, 2023.)