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This entry was published on 2020-10-16
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Multi-jurisdictional account wagering providers
Racing, Pari-Mutuel Wagering and Breeding Law (PML) CHAPTER 47-A, ARTICLE 10
§ 1012-a. Multi-jurisdictional account wagering providers. A
multi-jurisdictional account wagering provider shall only be licensed
under the following conditions:

1. the multi-jurisdictional account wagering provider is licensed by
the state in which it is located and, if required, by each state in
which it operates;

2. the character and the background of the multi-jurisdictional
account wagering provider is such that granting the applications for a
license is in the public interest and the best interest of honest horse

3. the multi-jurisdictional account wagering provider shall utilize
the services of an independent third party to perform identity and
verification services with respect to the establishment of wagering
accounts for persons who are residents of the state of New York;

4. the commission shall be allowed access to the premises of the
multi-jurisdictional account wagering provider to visit, investigate
and, place such expert accountants and other persons it deems necessary
for the purpose of insuring compliance with the rules and regulations of
the commission;

5. if not already registered, the multi-jurisdictional account
wagering provider shall agree promptly to take those steps necessary to
qualify to do business in New York state, and to maintain such status in
good standing throughout the license period;

6. multi-jurisdictional account wagering providers shall pay a market
origin fee equal to five percent on each wager accepted from New York
residents. Multi-jurisdictional account wagering providers shall make
the required payments to the market origin account on or before the
fifth business day of each month and such required payments shall cover
payments due for the period of the preceding calendar month; provided,
however, that such payments required to be made on April fifteenth shall
be accompanied by a report under oath, showing the total of all such
payments, together with such other information as the commission may
require. A penalty of five percent and interest at the rate of one
percent per month from the date the report is required to be filed to
the date the payment shall be payable in case any payments required by
this subdivision are not paid when due. If the commission determines
that any moneys received under this subdivision were paid in error, the
commission may cause the same to be refunded without interest out of any
moneys collected thereunder, provided an application therefor is filed
with the commission within one year from the time the erroneous payment
was made. The commission shall pay into the racing regulation account,
under the joint custody of the comptroller and the commission, the total
amount of the fee collected pursuant to this section.