11 VAC 5-80-100 Disposition of inactive, dormant accounts

GLI Recommendations

If a sports bettor's segregated player account remains unclaimed for five two years after the balances are payable or deliverable to the sports bettor, the permit holder shall presume the account to be abandoned and shall be closed. The permit holder shall report and remit all segregated player accounts presumed abandoned to the State Treasurer or his designee pursuant to Chapter 25 (§ 55.1-2500 et seq.) of Title 55.1 of the Code of Virginia. Before closing an account pursuant to this section, the permit holder shall attempt to contact the player by mail, phone, and electronic mail.

GLI recommends split into separate section and updates based on what has been seen in other markets.