Iowa Admin. Code r. 491-13.3 - Approval of sports wagers
(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.
Notes
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