Wagers and payouts exceeding $10,000

Wagers and payouts exceeding $10,000 (a) Prior to accepting any nonpari-mutuel wager in excess of $10,000 or making a payout in excess of $10,000 on a nonpari-mutuel winning wager the book shall: 1. Obtain the patron’s name; 2. Obtain or reasonably attempt to obtain the patron’s permanent address and social security number; 3. Obtain one of the following identification credentials from the patron; i. Driver’s license; ii. Passport; iii. Non-resident alien identification card; iv. Other reliable government issued identification credentials; or v. Other picture identification credential normally acceptable as a means of identification when cashing checks; and 4. Examine the identification credential obtained to verify the patron’s name, and to the extent possible, to verify the accuracy of the information obtained pursuant to paragraph (2). (b) Subsequent to accepting a nonpari-mutuel wager in excess of $10,000 or making a payout in excess of $10,000 on a nonpari-mutuel winning wager the book shall record or maintain records that include: 1. The patron’s name; 2. The patron’s address; 3. The patron’s social security number; 4. A description including any document number of the identification credential examined (or credential information on file for known patrons); 5. The amounts of the wager and payout on the wager; 6. Window numbers or other identification of the locations where the wager and payout on the wager occurred; 7. The times and dates of the wager and payout on the wager; 8. The names and signatures of the book employees accepting or approving the wager and payout on the wager; and 9. Any other information as required by the Executive Director. A book shall not implement alternative procedures to comply with this subsection without the written approval of the Executive Director. (c) As used in this section, a “known patron” means an individual patron known to the book employees accepting the wager and paying the winning wager, for whom the licensee has previously obtained the patron’s name and valid identification credential, and with respect to whom the licensee has on file and updates, at least every three years, all the information required to be recorded pursuant to this section. (d) As used in this section, a “listed patron” means a known patron for whom the book has requested and received approval from the Executive Director to exclude wagers and payments on winning wagers placed by the patron from the reporting requirements of this section. If the Executive Director does not deny the request for approval within 15 days of receipt of the request, the request will be deemed to be approved. All approvals may be revoked at any time at the discretion of the Executive Director, and are conditioned that the patron’s wagers and payments on winning wagers remain subject to the identification and recordkeeping requirements of subsections (a) through (c) and of Rule 3.6 and Rule 3.7. A book’s written request to have a patron approved as a listed patron shall include: 1. The patron’s name; 2. The patron’s residence, mailing or business address; 3. The patron’s social security number; 4. The patron’s identification credential information including any document number and expiration date; 5. The patron’s birth date; 6. A recent photograph of the patron’s face or a copy of a current picture identification credential; 7. A description of the patron’s book wagering activity including the use of any wagering accounts or credit accounts including account numbers; 8. A statement as to why the book desires to have the patron approved as a listed patron and an acknowledgment that the book believes that the patron is not involved in illegal wagering activity; 9. The signature of the licensee or an officer of the licensee; and 10. Any other information as required by the Executive Director. All records related to the patron’s activity supporting the request shall be available for commission review. (e) Each book shall report the wagers and payments on winning wagers required to be recorded pursuant to this section, excluding any wagers and payments on winning wagers accepted from listed patrons, on a “Book Wagering Report,” a form published or approved by the Executive Director that includes, but is not limited to: 1. The patron’s name; 2. The patron’s identity credential information; 3. The patron’s social security number; 4. Wager and payout amounts; and 5. Date of transactions. Reports shall be submitted to the Commission no later than 15 days after the end of the month of the occurrence of the transaction and in such manner as the Executive Director may approve or require. Each book shall file an amended report if the licensee obtains information to correct or complete a previously submitted report, and the amended report shall reference to the previously submitted report. Each book shall retain a copy of each report filed for at least 3 years unless the Executive Director requires retention for a longer period of time.