Rules & Regulations of the State of Tennessee
Title 1350 - Tennessee Sports Wagering Advisory Council
Chapter 1350-01 - Sports Gaming License Standards
Section 1350-01-.08 - SPORTS GAMING ACCOUNTS
Current through April 3, 2024
(1) Interactive Sports Gaming shall only be engaged in by Players who have established a Sports Gaming Account with an approved Licensee.
(2) The information necessary to establish a Sports Gaming Account shall be recorded and maintained for a period of five (5) years by the Licensee.
(3) Prior to the establishment of a Player's Sports Gaming Account, a Licensee shall, at a minimum, verify a Player's identity using the KYC methods set forth in subparagraphs (a) and (b), below. If the KYC methods set forth in subparagraphs (a) and (b), below, are unsuccessful in verifying the Player's identity, the Licensee may use the manual KYC process set forth in subparagraph (c), below.
(4) Prior to the establishment of a Player's Sports Gaming Account, the Licensee shall:
(5) Licensees shall record the Player's acceptance of the terms and conditions and privacy policy and acknowledgment that the information provided is accurate and the Player is prohibited from allowing any other Person to access or use the Player's Sports Gaming Account.
(6) If a Licensee determines that the information provided by a Player to make a deposit or process a withdrawal is inaccurate or incapable of verification; fails to verify the identity of the Player; or the Player violates the policies and procedures of the Licensee, the Licensee shall, within ten (10) calendar days, require the submission of additional information from the Player that can be used to remedy any violation or failure to verify the identity of the Player or funds deposit or withdrawal information of the Player. If such information is not provided or does not result in verification of the Player's identity or deposit or withdrawal information, the Licensee shall:
(7) Licensees shall notify the Player of the establishment of the Sports Gaming Account by e-mail, text message, or first-class mail. Once a Sports Gaming Account is created, a secure personal identification (e.g., a unique username) for the Player authorized to use the Sports Gaming Account shall be established that is reasonably designed to prevent the unauthorized access to, or use of, the Sports Gaming Account by any individual other than the Player for whom the Sports Gaming Account is established.
(8) A Player shall have only one (1) Sports Gaming Account for each Licensee.
(9) A Sports Gaming Account may be funded using:
(10) Funds may be withdrawn from a Player's Sports Gaming Account as follows:
(11) A Player's request for withdrawal of Player funds shall be completed within five (5) business days, unless another time is explicitly stated in the Licensee's House Rules or Terms and Conditions, or there is a pending unresolved dispute between Player and Licensee. A Licensee may withhold funds from withdrawal until all funding transactions with the Player have cleared or the chargeback period ends.
(12) All adjustments to a Player's Sports Gaming Account for individual amounts of five hundred dollars ($500.00) or less shall be periodically reviewed by Key Personnel or his or her designee. All other adjustments shall be authorized by Key Personnel or his or her designee prior to being entered. Procedures for adjustments in accordance with this rule shall be included in the Licensee's internal controls.
(13) Licensees shall not allow the transfer of funds or credits between Players.
(14) Each transaction with respect to a Sports Gaming Account between a Player and Licensee, except the placement or settlement of a Wager, must be confirmed by e-mail, telephone, text message, or other means agreed upon by the Player and Licensee. Licensees shall provide an account statement with details to a Player on demand, which shall include account activity for at least the six (6) months preceding the twenty-four (24) hours prior to the request. In addition, Licensees shall, upon request, be capable of providing to a Player a summary statement of all Player activity during the past twelve (12) months.
(15) Licensees shall suspend Wagers from being made and Immediately re-verify a Player's identification upon reasonable suspicion that the Player's identification or Sports Gaming Account has been compromised.
(16) Licensees shall offer a readily accessible method for a Player to close his or her Sports Gaming Account. Any balance remaining in a Player's Sports Gaming Account closed by a Player shall be refunded within five (5) business days of notice from the Player to the Licensee, or pursuant to another time explicitly stated in the Licensee's House Rules or Terms and Conditions.
(17) Sports Gaming Systems shall employ a mechanism that can detect and prevent any Player-initiated Interactive Sports Gaming or withdrawal activity that would result in a negative balance of a Sports Gaming Account.
(18) A Player's Sports Gaming Account shall be disabled after three (3) failed log-in attempts and require Multi-Factor Authentication to recover or reset a password or username.
(19) A Licensee shall employ a mechanism that places a Sports Gaming Account in a suspended mode in the following situations:
(20) When a Sports Wagering Account is in a suspended mode, the Player shall be prevented from:
(21) A suspended Sports Gaming Account may be restored as follows:
Authority: T.C.A. §§ 4-49-106, 4-49-115(f), 4-49-118, and 4-49-125 and 2023 Tenn. Pub. Acts, Ch. 450.