New Jersey Administrative Code
Title 13 - LAW AND PUBLIC SAFETY
Chapter 74C - EXCHANGE WAGERING
Subchapter 5 - CONDUCT OF EXCHANGE WAGERING
Section 13:74C-5.5 - Corrective wagers permissible under certain circumstances

Universal Citation: NJ Admin Code 13:74C-5.5

Current through Register Vol. 56, No. 6, March 18, 2024

(a) The exchange wagering licensee may, under circumstances set forth in its internal control procedures as approved by the Commission pursuant to N.J.A.C. 13:74C-2.2, cause a corrective wager to be placed in a given market provided the placement of such wager is necessary to address the impact on that market of the cancellation or voiding of a given wager or given part of a matched wager, and provided that the cancellation or voiding of such given wager is due to the exchange wagering licensee's mistaken acceptance thereof.

(b) Corrective wagers may only be placed in a manner where no exchange revenues accrue to the exchange wagering licensee, any exchange management agent, or any exchange services agent.

(c) In the event the exchange wagering licensee causes a corrective wager to be placed pursuant to (a) above, it shall promptly cause to be filed with the Commission Supervisor of Mutuels a written report detailing the action taken, and the reasons in support of such action.

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