§ 197.3. Advance deposit account wagering rules.
(a) The ADW shall notify the patron, at the time of opening the account, of any rules the association has made concerning deposits, withdrawals, average daily balance, user fees, interest payments and any other aspect of the operation of the account. The ADW shall notify the patron whenever the rules governing the account are changed, the notification occurring before the new rules are applied to the account and including the opportunity for the patron to close or cash-in the account. The patron shall be deemed to have accepted the rules of account operation upon opening or not closing the account. The ADW shall request authorization from the Commission before a system of account wagering is offered.
(b) The ADW may reserve the right at any time to refuse to open an account, to accept a wager or to accept a deposit.
(c) Each account holder shall provide the personal information as the ADW and the Commission require, including an address to which communications are to be delivered. The ADW shall provide each account holder, a confidential account number and password to be used by the patron to confirm the validity of every account transaction.
(d) Deposits may be made in cash, by check or by other methods approved by the Commission. Holding periods will be determined by the ADW and advised to the account holder. A written or electronic receipt for the deposit may be issued to the account holder but does not need to reflect the current account balance.
(e) Each account holder shall be deemed to be aware of the status of that account at all times and shall maintain an adequate fund balance. Wagers will not be accepted which would exceed the available balance of that account. Any account not updated when a transaction is completed shall be inoperable until the transaction is posted and the account balance updated.
(f) When an account is entitled to a payout or refund, said moneys will be credited to the respective accounts, thus increasing the credit balance. It is the responsibility of the account holder to verify proper credits and, if in doubt, notify the association within the agreed upon time-frame for consideration. Unresolved disputes may be forwarded to the Commission by the ADW or the account holder. No claim will be considered by the Commission unless submitted in writing and accompanied by supporting evidence.
(g) The ADW must maintain complete records of every deposit, withdrawal, wager and winning payout for each. These records shall be made available to the Commission upon request.
(h) For wagers made for an account by telephone, the ADW shall make a voice recording of the entire transaction and shall not accept any wager if the voice recording system is inoperable. Voice recordings shall be retained for not less than 6 months and shall be made available to the Commission for investigative purposes.
(i) Any account wagering system must provide for the account holder’s review and finalization of a wager before it is accepted by the ADW. Neither the account holder nor the ADW shall change a wager after the account holder has reviewed and finalized the wager. In the case of a wager made by telephone, the voice recording of the transaction shall be deemed to be the actual wager, regardless of what was recorded by the pari-mutuel system.
(j) The ADW may close any account when the holder thereof attempts to operate with an insufficient balance or when the account is dormant for a period approved by the Commission. In either case, the ADW shall refund the remaining balance of the account to the account holder.
Cross References This section cited in 7 Pa. Code § 197.4 (relating to ADWs in other jurisdictions).
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