Code of Massachusetts Regulations
205 CMR - MASSACHUSETTS GAMING COMMISSION
Title 205 CMR 238.00 - Additional Uniform Standards of Accounting Procedures and Internal Controls for Sports Wagering
Section 238.41 - Sports Wagering Accounting Requirements

Universal Citation: 205 MA Code of Regs 205.238

Current through Register 1537, December 20, 2024

The system of Internal Controls submitted by a Sports Wagering Operator in accordance with 205 CMR 238.02 shall include Sports Wagering accounting procedures designed to ensure that the Sports Wagering Operator's wagering activities are accurately and timely recorded and reported. Specifically, the policies and procedures shall comport with 205 CMR 243.01: Standards for Sports Wagering Equipment and must address:

(1) The procedures and security for the daily calculation and recording of gross Sports Wagering receipts, Adjusted Gross Sports Wagering Receipts and winnings.

(2) The policies and procedures in connection with the internal audit department of its Sports Wagering Operations.

(3) The procedure for the recording of and reconciliation of Sports Wagering transactions.

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