N.J. Admin. Code § 13:70-29A.3

Current through Register Vol. 56, No. 21, November 4, 2024

Section 13:70-29A.3 - Licensing of single-pool wagering provider, principals, and employees

(a) The single-pool wagering provider shall be licensed as a vendor, pursuant to 13:70-4.1. In order for the application of a single-pool wager provider to be considered complete, the following documents must be submitted with its application for licensure, and such application and documents must be found to be complete by the Racing Commission Executive Director:

1. Written internal control procedures, consistent with 13:70-29A.4;

2. A written evaluation of the accuracy and reliability of the odds calculation engine, at cost to the applicant and performed by an independent testing facility acceptable to the Racing Commission Executive Director, as determined on a case-by-case basis, which includes a mathematical analysis of the odds calculation engine;

3. A fully executed contract, between the single-pool wager provider, and a single-pool wagering outlet, which provides for the offering of single-pool wagering events to the public;

4. Where the odds calculation engine is to operate as a separate computer component to the totalisator by a single-pool wagering provider other than the totalisator operator, a fully executed contract between the single-pool wager provider and totalisator operator, which contract is to address the interface between the totalisator and odds calculation engine, the specific single-pool wagering-related reports that are to be maintained by the totalisator operator, the specific single-pool wagering-related reports to be maintained by the single-pool wagering provider, and related terms;

5. Where the odds calculation engine is to operate as a separate computer component to the totalisator by a single-pool wagering provider other than the totalisator operator, a certification from a high managerial agent of the totalisator operator, indicating that the totalisator operator has reviewed the internal control procedures of the single-pool wagering provider, and as a result of that review, is of the opinion that the implementation of said procedures will not be inconsistent with the operation of the totalisator; and

6. A written list identifying all principals of the single-pool wagering provider, all the employees of the single-pool wagering provider, and those principals and employees who will have access to the odds calculation engine. The Racing Commission Executive Director, in his or her discretion, may require such persons to secure a Racing Commission "certificate of identification" license pursuant to 13:70-4.1(a)5.

N.J. Admin. Code § 13:70-29A.3