Mich. Admin. Code R. 432.755d - Authorized participant account withdrawal

Rule 755d.

(1) An authorized participant must be allowed to withdraw the funds maintained in his or her internet sports betting account, whether the account is open or closed, except as otherwise provided in these rules, or any other applicable state or federal laws.

(2) A sports betting operator or internet sports betting platform provider must honor the authorized participant's request to withdraw funds within 10 business days after the request, unless the conditions set forth in subrule (3) of this rule are met.

(3) The sports betting operator or internet sports betting platform provider may decline to honor an authorized participant's request to withdraw funds only if the sports betting operator or internet sports betting platform provider believes in good faith that the authorized participant engaged in either fraudulent conduct or other conduct that would put the sports betting operator or internet sports betting platform provider in violation of the act and these rules. In such cases, the sports betting operator or internet sports betting platform provider must do all of the following:

(a) Provide notice to the authorized participant of the nature of the investigation of the internet sports betting account.

(b) Conduct its investigation in a reasonable and expedient fashion, providing the authorized participant additional written notice of the status of the investigation every tenth business day starting from the day the original notice was provided to the authorized participant.

(4) For purposes of this rule, a request for withdrawal is considered honored if it is processed by the sports betting operator or internet sports betting platform provider notwithstanding a delay by a payment processor, credit card issuer, or the custodian of a financial account.

Notes

Mich. Admin. Code R. 432.755d

2020 MR 22, Eff. 12/2/2020