Iowa Administrative Code › Agency 491 - Racing and Gaming Commission › Chapter 13 - Sports Wagering › Rule 491-13.3 - Approval of Sports Wagers

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
Approval.
Prior to offering a sports wager, a facility or
			 advance deposit sports wagering operator shall request that the administrator
			 investigate and approve the sports wager for compliance with commission rules
			 and any other standards as required by the commission. The administrator may
			 require the facility or advance deposit sports wagering operator, at the
			 facility's or operator's own expense, to provide additional information as
			 deemed necessary to make a determination. Prior to approval, the administrator
			 may require a trial period of any sports wager offering. Once a sports wager is
			 approved by the administrator, unless it is subsequently disapproved for any
			 reason deemed appropriate by the administrator, the sports wager is available
			 for all operators under the conditions approved and subject to subrule
			 13.3(2).
(2)
Sports wager
			 submissions.
Prior to conducting a sports wager approved pursuant to
			 subrule 13.3(1), a licensee or advance deposit sports wagering operator shall
			 submit proposals for the wager, including but not limited to wagering rules,
			 payout information, source of the information used to determine the outcome of
			 the sports wager, and any restrictive features of the wager. The sports wager
			 submission, or requests for modification to an approved wager, shall be
			 submitted in writing and approved by the administrator prior to
			 implementation.
(3)
Sports
			 promotional contests, tournaments, or promotional activities.
Sports
			 promotional contests, tournaments, or promotional activities may be permitted
			 by the licensee, vendor, or advance deposit sports wagering operator providing
			 the following:
a. Rules shall be made
			 available to participants for review prior to registering. Rules shall include,
			 at a minimum: all conditions registered players must meet to qualify to enter
			 or advance through the event, available prizes or awards, fees, and
			 distribution of prizes or awards based on specific outcomes.
b. Rules are followed. Changes to rules shall
			 not be made after participants have registered.
c. Results shall be made available for the
			 registered players to review at the same location at which or in the same
			 manner in which players registered. Results shall include, at a minimum: name
			 of the event, date of the event, total number of entries, amount of entry fees,
			 total prize pool, and amount paid for each winning category.
d. Fees collected, less cash prizes paid, are
			 subject to the wagering taxes pursuant to Iowa Code section
			 99F.11(4).
			 In determining sports wagering net receipts, to the extent that cash prizes
			 paid out exceed fees collected, the licensee or advance deposit sports wagering
			 operator shall be deemed to have paid the fees for the participants.
e. Rules include terms and conditions. All
			 emails or digital advertisements promoting contests, tournaments, and
			 promotional activities shall include a link or other easily obtainable source
			 that includes rules or terms and conditions.
f. There is compliance with all other
			 federal, state, and local laws and rules outside of the commission's
			 jurisdiction.