Original Section(s)

11 VAC 5-70-290 Administration of an Account

GLI Recommendations

A.   Each sports betting account shall be administered in accordance with the terms and conditions, which have been approved by the Department, including but not limited to:

1.    Deposits;

2.    Credits to accounts;

3.    Debits to accounts;

4.    Withdrawals;

5.    Minimum deposit; and

6.    Fees, if any, per wager;

B.   Any wager shall be placed directly with the sports betting platform by the player. A sports betting platform shall not accept a wager in an amount in excess of funds on deposit in the player account of the individual placing the wager.

C.   A person may not directly or indirectly act as an intermediary, transmitter or agent in the placing of wagers for a player. A person may not place a wager on behalf of a player. Only a player may place a wager with their player account. Direct or indirect involvement as an intermediary, transmitter or agent in the placing of wagers includes a system, known as a transfer account or master account, whereby funds are deposited to one account from another account. This section does not prohibit use of credit or debit cards specifically approved by the permit holder or the use of checks, money orders or negotiable orders of withdrawal;

GLI recommends making new section with items from 11 VAC 5-70-290 focusing on player account transactions. GLI also recommends these requirements be added based on what has been seen in other markets.

11 VAC 5-70-290.G

D. A player account may be funded using:

1. A debit card specifically approved by the permit holder;
2. A credit card specifically approved by the permit holder;
3. An electronic bank transfer, including a transfer through third parties;
4. An online or mobile payment systems that supports online money transfers;
5. Winnings or payouts;
6. Personal checks, cashier’s checks, wire transfer and money order deposits made directly or mailed to the permit holder;
7. Transfers from another account verified to be controlled by the player through the Automated Clearing House (ACH deposit) or another mechanism designed to facilitate electronic commerce transactions;
8. Cash complimentary, promotional credit, or bonus credit;
9. Adjustments made by the permit holder with documented notification to the player; or
10. Any other means approved by the Board.

GLI recommends additional methods be allowed based on what has been allowed in other markets.

GLI also recommends

1. Adding 11 VAC 5-80-90.10
2. Incorporating from § 58.1-4034.A.7. “automated clearing house payments” and “wire transfers”.
3. Considering “cash, check, money order”, especially if the sports books partner with one of the stadiums or casinos once opened. This would require removing “Cash transfers” from 11 VAC 5-80-90.10.

11 VAC 5-80-90.10

E. Cash transfers and automatic deposits are prohibited or restricted

11 VAC 5-70-290.H

F. Funds may be withdrawn from a player account through:

1. Wagers;
2. Cashier’s check, wire transfer, or money order by the permit holder made payable to the player and issued directly or delivered to the player’s address on file with the permit holder;
3. Credits to the player’s debit card;
4. Credits to the player’s credit card;
5. Electronic bank transfers, including transfers through third parties;
6. Online or mobile payment systems that support online money transfers;
7. Transfers to another account verified to be controlled by the player through the automated clearing house (ACH withdrawal) or another mechanism designed to facilitate electronic commerce transactions;
8. Adjustments made by the permit holder with documented notification to the player; or
9. Any other means approved by the Board.