Query Rules & Regulations Results


Rule No.Rule Title
2087.6Cancellation of Matched Wagers
Rule Text(a) An exchange provider may cancel or void a matched wager or part of a matched wager if required by law or where, in its sole discretion, it determines: (1) there is a technological failure and the market must be voided; or (2) there is good cause to suspect that a natural person placing a wager through the exchange has breached any term of the natural person's agreement with the exchange provider; (3) it is in the interest of maintaining integrity and fairness in a particular market; or (4) human error by the exchange wagering provider in recording an exchange wager. (b) If a matched wager is canceled or voided due to situations described in subparagraphs (a)(1), (a)(2) and (a)(3) of this section, the exchange provider shall notify the Board in writing of its actions and the circumstances that resulted in such action. (c) An account holder who believes a payout was not made due to the cancellation of a matched wager may submit a claim to the exchange provider in accordance with Rule 2089 of this article. NOTE: Authority cited: Sections 19420, 19440, 19590 and 19604.5, Business and Professions Code. Reference: Sections 19593 and 19604.5(k), Business and Professions Code. HISTORY: 1. New rule filed 8-6-13; effective 8-6-13.
 
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