Wyoming Administrative Code
Agency 038 - Wyoming Gaming Commission
Sub-Agency 0002 - Online Sports Wagering
Chapter 7 - Audit and Internal Controls
Section 7-2 - Commission Approval of Internal Control Standards and Requirements

Universal Citation: WY Code of Rules 7-2

Current through September 21, 2024

(a) Unless otherwise provided for by the Commission, before beginning online sports wagering operations, a sports wagering operator, a sports wagering vendor, or both, must submit its administrative and accounting procedures, in detail, in a written system of internal controls for Commission review and written approval. A written system of internal controls must include a detailed narrative description of the administrative and accounting procedures designed to satisfy the requirements of these rules.

(b) The written system of internal controls must address the following items, at a minimum:

(i) Automated and manual risk management procedures;

(ii) Employee management, including access controls and segregation of duties;

(iii) Information regarding identifying and reporting fraud and suspicious conduct;

(iv) Controls ensuring regulatory compliance;

(v) Description of Anti-Money Laundering (AML) compliance standards including procedures for detecting structuring to avoid reporting requirements;

(vi) Description of all software applications that comprise the sports wagering system;

(vii) Description of all types of wagers available to be offered by the sports wagering operator or sports wagering vendor;

(viii) Description of the method to prevent past-post wagers from being placed;

(ix) Description of all integrated third-party platforms; and

(x) Any other information which may be required by the regulatory body through the issuance of Commission Directives.

(c) To the extent a third-party is involved in or provides any of the internal controls required in these rules, the sports wagering operator's or sports wagering vendor's controls, or the controls of both of them must document the roles and responsibilities of the third-party and must include procedures to evaluate the adequacy of and monitor compliance with the third-party's internal control procedures.

Disclaimer: These regulations may not be the most recent version. Wyoming may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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