Virginia Code 58.1-4044: Required direct notification to the Department and to sports governing bodies.
A. A permit holder shall, as soon as is commercially reasonable, report to the Department any information relating to:
Terms Used In Virginia Code 58.1-4044
- Department: means the independent agency responsible for the administration of the Virginia Lottery pursuant to this article and sports betting pursuant to Article 2 (§ Virginia Code 58.1-4002
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Permit holder: means a person to which the Director issues a permit pursuant to §§ Virginia Code 58.1-4030
- Sports betting: includes any system or method of wagering approved by the Director, including single-game bets, teaser bets, parlays, over-under, moneyline, pools, exchange wagering, in-game wagering, in-play bets, proposition bets, and straight bets. See Virginia Code 58.1-4030
- Sports governing body: includes a designee of the sports governing body. See Virginia Code 58.1-4030
1. Criminal or disciplinary proceedings commenced against the permit holder in connection with its operations in the Commonwealth or in any other jurisdiction;
2. Abnormal betting activity or patterns that may indicate a risk to the integrity of a bet or wager;
3. Any potential breach of a sports governing body‘s rules and codes of conduct pertaining to sports betting, to the extent that such rules and codes of conduct are provided to and known by the permit holder;
4. Any conduct that may alter the outcome of an athletic event for purposes of financial gain, including match fixing; and
5. Suspicious or illegal wagering activities, including using funds derived from illegal activity to place bets, using bets to conceal or launder funds derived from illegal activity, using agents to place bets, and using false identification to place bets.
B. A permit holder shall, as soon as is commercially practicable, report the information described in subdivisions A 2, 3, and 4 to any sports governing body that may be affected by the activities described in subdivisions A 2, 3, and 4.