(a) Acceptance.--An interactive gaming certificate holder may accept wagers only as follows:
(1) The wager shall be placed directly with the interactive gaming certificate holder by the registered player, after the interactive gaming certificate holder has verified the identity of the individual seeking to place the wager.
(2) The registered player provides the interactive gaming certificate holder with the correct password or other authentication information for access to the interactive gaming account.
(b) Nonacceptance.--An interactive gaming certificate holder may not accept a wager in an amount in excess of funds on deposit in the interactive gaming account of the registered player placing the wager. Funds on deposit include amounts credited to a registered player's interactive gaming account in accordance with regulations of the board and any funds in the account at the time the wager is placed.