Mich. Admin. Code R. 432.746a

Current through Vol. 24-19, November 1, 2024

Section R. 432.746a - Acceptance of wagers

Rule 746a.

(1) Available wagers must be displayed to authorized participants on the sports betting operator's or internet sports betting platform providers internet sports betting platform. The display must include the odds and a brief description of the event and wagering proposition.

(2) A sports betting operator or internet sports betting platform provider may not accept an internet sports betting wager on an event unless a wagering proposition is posted on the sports betting operator's or internet sports betting platform providers internet sports betting platform.

(3) A sports betting operator or internet sports betting platform provider may not set lines or odds or offer wagering propositions designed for the purposes of ensuring that an authorized participant will win an internet sports betting wager or a series of internet sports betting wagers, unless the lines, odds, or wagering propositions are offered in connection with a promotion conducted in accordance with these rules.

(4) Unless otherwise directed by the board, there is no limitation as to the minimum or maximum internet sports betting wager a sports betting operator or internet sports betting platform provider may accept. This rule does not preclude a sports betting operator or internet sports betting platform provider from establishing its own minimum or maximum internet sports betting wagers or limiting an authorized participants internet sports betting wager for reasons considered necessary or appropriate by the sports betting operator or internet sports betting platform provider.

(5) Unless otherwise approved by the board, an internet sports betting platform shall provide for an authorized participant to review and confirm all wagering information before an internet sports betting wager is accepted.

(6) On completion of an internet sports betting wager, a virtual internet sports betting wager record must be provided to or made available to the authorized participant. The record must contain at a minimum the following information:

(a) The date and time the internet sports betting wager was placed.

(b) The date and time the event is expected to occur.

(c) Any authorized participant choices involved in the internet sports betting wager as follows:

(i) Internet sports betting wager selection.

(ii) Type of internet sports betting wager and line postings.

(iii) Any special condition or conditions applying to the internet sports betting wager.

(iv) Payout.

(d) Total amount wagered, including any promotional or bonus credits, if applicable.

(e) Identification of the event and wagering proposition.

(f) Unique identification number of the internet sports betting wager record.

(7) Except as otherwise provided in these rules or applicable state or federal law, a sports betting operator or internet sports betting platform provider must pay winning authorized participants following the completion of the event or portion of the event on which the wagering proposition was contingent.

(8) A sports betting operator or internet sports betting platform provider may, in its discretion, cancel an accepted internet sports betting wager for obvious error. Obvious error must be defined in the sports betting operators or internet sports betting platform providers internal controls.

(9) A sports betting operator or internet sports betting platform provider must cancel an internet sports betting wager made by a prohibited person and confiscate the funds pursuant to part 7 of these rules. A sports betting operator or internet sports betting platform provider must cancel a wager under this subrule when the sports betting operator or internet sports betting platform provider becomes aware or should have been aware that the individual who made the internet sports betting wager is a prohibited person.

(10) Except as otherwise provided in this part, a sports betting operator or internet sports betting platform provider may not unilaterally cancel an accepted internet sports betting wager without prior written approval of the board.

Mich. Admin. Code R. 432.746a

2020 MR 22, Eff. 12/2/2020