S.D. Admin. R. 20:18:35:36
The reserve must be not less than the greater of $25,000 or the sum of the following amounts:
Funds held in wagering accounts may not be automatically transferred by a licensee or sports wagering services provider. A licensee or sports wagering services provider may not require a patron to transfer funds from his or her wagering account in order to circumvent this rule.
Amounts available to patrons for play that are not redeemable for cash may be excluded from the reserve computation.
A licensee or sports wagering services provider shall ensure the amount of its reserve is sufficient and shall maintain access to all wagering accounts and transaction data. Unless otherwise directed by the commission, a licensee or sports wagering services provider shall file a monthly attestation with the commission, in the form and manner prescribed by the commission through internal control procedures, that funds have been safeguarded under this section.
The commission may audit a licensee's or sports wagering services provider's reserve at any time and may direct a licensee or sports wagering services provider to take any action necessary to ensure the purposes of this section are achieved. The commission may require the licensee or sports wagering services provider to modify the form of its reserve or increase the amount of its reserve.
S.D. Admin. R. 20:18:35:36
General Authority: SDCL 42-7B-7, 42-7B-11(13).
Law Implemented: SDCL 42-7B-2.1(1), 42-7B-43.