(a) No wagers may be accepted or paid by any licensee/book on:

1. (1) Any amateur sport or athletic event other than:

   1. (A) Olympic sporting or athletic events sanctioned by the International Olympic Committee, subject to limitation by the Arkansas Racing Commission or the commission’s designee in the commission’s sole and absolute discretion; and
   2. (B) Collegiate sporting or athletic events;

2. (2)

   1. (A) Any collegiate sport or athletic event which the licensee knows or reasonably should know is being placed by or on behalf of a coach or participant in that collegiate event.
   2. (B) Each licensee shall take reasonable steps to prevent the circumvention of this subpart;
3. (3) The outcome of any election for any public office both within and without the State of Arkansas; and

4. (4) Any event other than a horse race, greyhound race, or an athletic sports event, unless such event is:

   1. (A) Administratively approved by the commission in writing in accordance with subsection (c) of this section;
   2. (B) After referral from the commission, approved by the commission in accordance with subsection (e) of this section; or
   3. (C) Approved by the commission after review pursuant to this part or, if applicable, approved by the commission after review pursuant to this part.

(b) A request for approval to accept wagers on an event other than a horse race, greyhound race, or an athletic sports event shall be made by a book on such forms approved by the commission, and shall include:

1. (1) A full description of the event and the manner in which wagers would be placed and winning wagers would be determined;
2. (2) A full description of any technology which would be utilized to offer the event;

3. (3) Such other information or documentation which demonstrates that:

   1. (A) The event could be effectively supervised;
   2. (B) The outcome of the event would be verifiable;
   3. (C) The outcome of the event would be generated by a reliable and independent process;
   4. (D) The outcome of the event would be unlikely to be affected by any wager placed;
   5. (E) The event could be conducted in compliance with any applicable laws; and
   6. (F) The granting of the request for approval would be consistent with the public policy of the state; and
4. (4) Such additional or supplemental information as the commission may require.

(c)

1. (1) The commission may refer a request for approval to the full commission for consideration, or grant, deny, limit, restrict, or condition a request made pursuant to subsection (b) of this section for any cause the commission deems reasonable.
2. (2) A book aggrieved by an administrative decision of the commission may submit the matter for review by the commission pursuant to this part.

(d)

1. (1) The commission is hereby granted the authority to issue an interlocutory order revoking or suspending any administrative approval granted pursuant to subsection (c) of this section for any cause deemed reasonable.
2. (2) An interlocutory order shall be deemed delivered and effective when personally served upon the book, or if personal service is impossible or impractical, when deposited, postage prepaid, in the United States mail, to the book at its address as shown in the records of the commission.
3. (3) If an interlocutory order revoking or suspending the administrative approval is issued, the affected book may request that the order be reviewed by the commission pursuant to this part.

(e)

1. (1) Whenever the commission refers a request for approval to the commission for consideration, the request shall be deemed an application and the book which submitted the request shall submit the application fee set forth in this part.
2. (2) Such application shall be included on the agenda of the next regularly scheduled meeting of the commission occurring more than ten (10) working days after receipt of the application fee and, thereafter, on the agenda of the next regularly scheduled meeting of the commission.
3. (3) The commission, after considering the recommendation of the commission may grant, deny, limit, restrict, or condition the application for any cause it deems reasonable and the decision of the commission shall be final and shall not be subject to any further administrative or judicial review.

(f)

1. (1) Upon approval of the acceptance of wagers on an event other than a horse race, greyhound race, or an athletic sports event pursuant to the provisions of subsection (a) of this section, the commission shall provide public notice of such approval including any conditions and limitations placed on such approval.
2. (2) Such notice shall occur by publication on the commission’s website as close as practicable to the time at which the commission, director, or commission approves the other event.
3. (3) Thereafter, any book may accept wagers on such other event pursuant to the approval and any conditions and limitations placed thereon.