The board shall promulgate regulations:

(1) Establishing standards and procedures for sports wagering. The standards and procedures shall provide for the conduct and implementation of sports wagering by slot machine licensees, including any new sports wagering or variations or composites of approved sports wagering, provided that the board determines that the new sports wagering or any variations or composites or other approved sports wagering are suitable for use after a test or experimental period under the terms and conditions as the board may deem appropriate.

(2) Establishing standards and procedures to govern the conduct of sports wagering and the system of wagering, including the manner in which wagers are received, payouts are remitted and point spreads, lines and odds are determined. The board may also promulgate regulations to govern the conduct of sports wagering and the system of wagering as a form of interactive gaming authorized by the Commonwealth.

(3) Establishing the method for calculating gross sports wagering revenue and standards for the daily counting and recording of cash and cash equivalents received in the conduct of sports wagering, including ensuring that internal controls are followed and financial books and records are maintained and audits are conducted. The board shall consult with the department in establishing the regulations under this paragraph.

(4) Establishing notice requirements pertaining to minimum and maximum wagers on sports wagering.

(5) Establishing compulsive and problem gambling standards pertaining to sports wagering consistent with this part.

(6) Establishing standards prohibiting persons under 21 years of age from participating in sports wagering.

(7) Providing information pertaining to sports wagering in the board's annual report required under section 1211(a.1) (relating to reports of board).

(8) Requiring each sports wagering certificate holder to:

(i) Provide written information about sports wagering rules, payouts or winning wagers and other information as the board may require.

(ii) Provide specifications approved by the board under section 1207(11) (relating to regulatory authority of board) to integrate and update the licensed facility's surveillance system to cover all areas in the licensed facility where sports wagering is conducted. The specifications shall include provisions providing the board and other persons authorized by the board with onsite access to the surveillance system or its signal.

(iii) Designate one or more locations within the licensed facility to conduct sports wagering.

(iv) Ensure that visibility of each sports wagering area in the licensed facility of the sports wagering certificate holder is not obstructed in any way that could interfere with the ability of the sports wagering certificate holder, the board and other persons authorized under this part or by the board to oversee the surveillance of the conduct of sports wagering.

(v) Integrate the licensed facility's count room to ensure maximum security of the counting and storage of cash and cash equivalents.

(vi) Equip each designated sports wagering area within the licensed facility with a sign indicating the permissible sports wagering minimum and maximum wagers.

(vii) Ensure that no person under 21 years of age participates in sports wagering.