House rules - Acceptance of wagers - Payouts

(a) Each licensee shall adopt and adhere to a written, comprehensive policy outlining the house rules governing the acceptance of wagers and payouts. The policy and rules must be approved by the council prior to the acceptance of a wager by a licensee. The policy and rules must be readily available to a bettor on the licensee's website. (b) The council shall promulgate rules regarding: (1) The manner in which a licensee accepts wagers from and issues payouts to bettors, including payouts in excess of ten thousand dollars ($10,000); and (2) Reporting requirements for suspicious wagers. Renumbered from T.C.A. s 4-51-322 by 2021 Tenn. Acts, ch. 593, s 30, eff. 1/1/2022. Added by 2019 Tenn. Acts, ch. 507, s 1, eff. 7/1/2019. (a) Each licensee shall adopt and adhere to a written, comprehensive policy outlining the house rules governing the acceptance of wagers and payouts. The policy and rules must be approved by the council prior to the acceptance of a wager by a licensee. The policy and rules must be readily available to a bettor on the licensee's website. (b) The council shall promulgate rules regarding: (1) The manner in which a licensee accepts wagers from and issues payouts to bettors, including payouts in excess of ten thousand dollars ($10,000); and (2) Reporting requirements for suspicious wagers. (1) The manner in which a licensee accepts wagers from and issues payouts to bettors, including payouts in excess of ten thousand dollars ($10,000); and (2) Reporting requirements for suspicious wagers. Renumbered from T.C.A. s 4-51-322 by 2021 Tenn. Acts, ch. 593, s 30, eff. 1/1/2022. Added by 2019 Tenn. Acts, ch. 507, s 1, eff. 7/1/2019.