Virginia Administrative Code › Title 11 - GAMING › Agency 10 - VIRGINIA RACING COMMISSION › Chapter 45 - ADVANCE DEPOSIT ACCOUNT WAGERING › Section 11VAC10-45-10 - Definitions

Current through Register Vol. 40, No. 24, July 15, 2024
The following definitions and interpretations shall apply to
				  these rules unless otherwise indicated or the text otherwise requires:
"Account" means an account for account wagering with a
				  specific identifiable record of deposits, wagers, and withdrawals established
				  by an account holder and managed by the account-wagering licensee.
"Account holder" means an individual who successfully
				  completed an application and for whom the account-wagering licensee has opened
				  an account.
"Account wagering center" means an actual location,
				  equipment, and staff of an account wagering licensee or agents of the account
				  wagering licensee involved in the management, servicing and operation of
				  account wagering.
"Account wagering licensee" means an entity licensed by the
				  commission to accept deposits and wagers, issue a receipt or other confirmation
				  to the account holder evidencing such deposits and wagers, and transfer credits
				  and debits to and from accounts.
"Advance deposit account wagering" (hereafter account
				  wagering) means a method of pari-mutuel wagering conducted in the Commonwealth
				  that is permissible under the Interstate Horseracing Act ( 15 USC § 3001
				  et seq.) and in which an individual may establish an account with an entity,
				  licensed by the commission, to place pari-mutuel wagers in person or
				  electronically.
"Applicant" means an individual who has submitted an
				  application to establish an account with either (i) an account wagering
				  licensee or (ii) a company applying for an account wagering license from the
				  commission.
"Commission" means the Virginia Racing Commission.
"Confidential information" means:
1. The amount of money credited to, debited from, withdrawn
				  from, or present in any particular account holder's account;
2. The amount of money wagered by a particular account holder
				  on any race or series of races;
3. The account number and secure personal identification code
				  of a particular account holder;
4. The identities of particular entries on which the account
				  holder is wagering or has wagered; and
5. Unless otherwise authorized by the account holder, the
				  name, address, and other information in the possession of the account wagering
				  center and race meet licensee that would identify the account holder to anyone
				  other than the commission or the account wagering licensee.
"Credits" means all inflow of money to an account.
"Debits" means all outflow of money from an account.
"Deposit" means a payment of money by cash, check, money
				  order, credit card, debit card, or electronic funds transfer made by an account
				  holder to the account holder's account.
"Handle" means the total amount of all pari-mutuel wagering
				  sales excluding refunds and cancellations.
"Individual" means any natural person at least 18 years of
				  age, but does not include any corporation, partnership, limited liability
				  company, trust, estate or other legal entity.
"Other electronic media" means any electronic communication
				  device or combination of devices including but not limited to personal
				  computers, the Internet, private networks, interactive televisions and wireless
				  communication technologies or other technologies approved by the
				  commission.
"Principal residence address" means the street address
				  identified by an applicant or a current account holder as that individual's
				  residential address, as such address may be verified by the account wagering
				  licensee.
"Proper identification" means a form of identification
				  accepted in the normal course of business to establish that the person making a
				  transaction is an account holder.
"Retainage" means the total amount deducted from the
				  pari-mutuel wagering pool for (i) a license fee to the commission and
				  localities, (ii) the unlimited license, (iii) purse money for the participants,
				  (iv) the Virginia Breeders Fund, and (v) certain enumerated organizations as
				  required or permitted by law, regulation or contract approved by the
				  commission.
"Secure personal identification code" means either a numeric
				  or an alpha-numeric character code chosen by an account holder as a means by
				  which the account wagering licensee may verify a wager or account transaction
				  as authorized by the account holder.
"Source market fee area" means the Commonwealth of
				  Virginia.
"Terms of agreement" means the agreement, approved by the
				  commission, between an account wagering licensee and an account holder that
				  includes but is not limited to the deposits, credits, debits, withdrawals and
				  the opening and closing of accounts.
"Withdrawal" means a payment of money from an account by the
				  account wagering licensee to the account holder when properly requested by the
				  account holder.
"Withdrawal slip" means a form provided by the account
				  wagering licensee for use by an account holder in withdrawing funds from an
				  account.
Statutory Authority: § 59.1-369 of the Code of
					 Virginia.