§ 1408a.8. Risk management.
(a) A sports wagering certificate holder or sports wagering operator must implement risk management procedures. These procedures may be provided in-house by a unit capable of performing this function with appropriate segregation of functions and reporting duties, or by an independent third party certified by the Board as required under § 1405a.4(a)(4) (relating to qualification of individuals and entities of certified sports wagering gaming service providers).
(b) A sports wagering certificate holder’s or sports wagering operator’s internal controls must contain a description of its risk management framework including all of the following:
(1) Automated and manual risk management procedures.
(2) User access controls for all sportsbook personnel.
(3) Information regarding segregation of duties.
(4) Information regarding fraud detection.
(5) Controls ensuring regulatory compliance.
(6) Description of anti-money laundering compliance standards.
(7) Description of all software applications that comprise the sports wagering system.
(8) Description of all types of wagers available to be offered by the sports wagering system.
(9) Description of all integrated third-party systems.
(10) Description of the policies and procedures to be followed in the event that an error occurs in the offering of an event or wager, including cancellation of the wagers placed due to error, which shall be subject to Board approval.
(11) Any other information required by the Board.
(c) A sports wagering certificate holder or sports wagering operator shall file with the Office of Sports Wagering, in a manner and form developed by the Board, a report of any error that occurs in offering an event or wager or if an unapproved event or wager is offered to the public.
(1) Reports shall be filed no later than 5 calendar days after a sports wagering certificate holder or sports wagering operator initially detects or discovers facts that constitute the basis of filing a report.
(2) In situations involving activity that requires immediate attention, a sports wagering certificate holder or sports wagering operator shall immediately notify the Office of Sports Wagering in addition to the timely filing of a report.
(d) A sports wagering certificate holder or sports wagering operator shall maintain a copy of any report filed with the Board and the original or business record equivalent of any supporting documentation for a period of 5 years from the date the report was filed.
(1) Supporting documentation shall be identified and maintained by a sports wagering certificate holder or sports wagering operator as such, and shall be deemed to have been filed with the report.
(2) A sports wagering certificate holder or sports wagering operator shall make all supporting documentation available to the Board upon request.
Cross References This section cited in 58 Pa. Code § 1401a.5 (relating to conduct of sports wagering generally); and 58 Pa. Code § 1407a.4 (relating to wagering device requirements generally).
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