Michigan Sports Betting Draft Rules on Official League Data

Details: Category: Gambling Industry; Created: Sunday, 03 May 2020 00:14

State regulators posted Michigan sports betting draft rules regarding the use of official league data. The proposed regulations gave sportsbooks a way to challenge the official league data requirement.

According to the state sports betting law, in-play bets require the use of official league data. However, the draft rules offer a way for operators who are unsatisfied with the mandate. By default, sports betting companies can only use approved information source for Tier 2 sports wagers.

A sports governing body based in the US can notify state regulators of the use of their official league data. Also, providers of league data need to apply for a supplier license from the state. Sportsbook operators have 60 days to swift towards the official league data after the request notification.

Michigan Sports Betting Draft Rules

Operators can use approved data sources if official league data is unavailable for a specific type of in-play bet, according to sportsbook pay per head sources. Also, operators can petition the board if they find the terms of the official league data provider not commercially viable.

While the board is deciding on the petition, the operators can use any approved league data source. Based on pay per head reviews, decisions of the board can take a maximum of 120 days. Some factors that the board can use to consider whether the data source is commercially reasonable or not are:

Data are available from more than one licensed source
Market information about the cost of data used to settle wagers
Quantity, integrity, accuracy, availability, timeliness, reliability, completeness, and quality of the official league data
Scope of the sports governing bodies in providing data
Cost and availability of similar data from other sources
Uncompetitive terms and conditions.

According to online bookie software sources, the proposed rules established the processes for the approval of operators and their suppliers. It includes geofencing requirements, integrity monitoring capabilities, and house rules, to name a few.