N.Y. Comp. Codes R. & Regs. tit. 9, § 4500.9 – Conduct of wagering.

(a) Account wagers shall be transacted through only an account wagering center.
(b) The account wagering licensee may accept account wagers via any wired or wireless communications device, including but not limited to wireline telephones, wireless telephones, and the internet subject to applicable laws, rules and its approved plan of operation.
(c) The account wagering licensee shall not permit any person other than the person in whose name an account has been established to issue wagering instructions relating to that account or otherwise engage in wagering transactions relating to that account.
(d) The account wagering licensee shall:
1. (1) require the account holder to provide the account wagering identification number and PIN before an account wager is accepted;
2. (2) confirm all account wagering transactions before acceptance of an account wager;
3. (3) verify that the account has sufficient funds to pay for the wager. No wager or portion of wager shall be accepted if the account fails to have sufficient funds to cover the wager;
4. (4) debit the total amount of the wager from the account immediately after verifying the wager;
5. (5) not accept any account wager if the recording devices are inoperable; and
6. (6) not cash or accept any public assistance check or electronic benefit transfer device issued by a public welfare official or department, or agent thereof, as and for public assistance, as proscribed by section 151 of the Social Services Law. Any entity that violates this paragraph shall be disciplined by the commission. Such discipline may include one or more of the following actions:
  1. (i) revocation of a license;
  2. (ii) suspension of a license;
  3. (iii) a fine; or
  4. (iv) issuance of a public or private letter of reprimand to be placed in the file of the licensee.
(e) The account wagering licensee may permit an account wager to be cancelled before the start of the race but after such licensee has accepted and processed such wager, subject to the following limitation: for wagers greater than $500 in win, place and show pools on any betting entry, and for wagers greater than $50 on any one combination in multiple, exotic or super-exotic pools, the account holder’s request to cancel shall be referred to such licensee’s management. Management shall refuse any cancellation that may cause substantial altering of odds, prices or betting totals, and shall certify in writing to the commission its finding either accepting or rejecting such request.