Earlier this week, Nevada’s Gaming Control Board started the process of updating the regulations for the sports betting industry in the state of Nevada. With the advent of sports betting competition from at least five other states, being West Virginia, Mississippi, New Jersey, Delaware, and now a tribal casino close to Albuquerque, New Mexico, Nevada regulators feel the rules need to be upgraded.
Ten representatives from the gaming industry gave testimony on the proposed amendments to four different regulations. Among the changes being considered are as follows.
Change the requirement that sportsbooks must honor winning tickets for 30 days after the conclusion of an event and increasing that time frame to 100 days.
Change the existing regulation that bans sportsbooks and racebooks from accepting wagers from outside the state. The proposed amendment would add, “unless such wagers are legal in the jurisdiction from which they originate and federal law allows such wagers”
Remove the requirement that players who register for an interactive gaming account must submit their Social Security Numbers and require only the last four digits of the number.
Within the amendments, there are also details to clarify what types of bets that sportsbooks will be allowed to take. Regulations to enable the Control Board Chairperson to authorize betting on events after an applicant supplies a full description of the sporting event, if integrity measures are in place, and how it would be supervised.
Off-Site Sports Betting Registration
Representatives from Wynn Resorts Ltd., Caesars Entertainment Inc., and MGM Resorts International have asked the regulators to create rules which would allow bettors to register for gaming accounts without having to be physically located on casino grounds. This practice is allowed in New Jersey’s new sports betting legislation.
This request makes sense for Nevada since New Jersey reported that their revenue generated by remote betting surpassed that of bets placed while on-site at casinos.
Becky Harris, the Control Board Chairwoman, said that while she is interested in considering this proposal, it will need a majority board vote before it will be sent to the Nevada Gaming Commission for consideration.
Betting on Entertainment Events like the Oscars
Sure, there are a lot of private bets collected on the days leading up to the Oscars, but it’s a possibility that sportsbooks might be able to take bets on who will win which awards on the prestigious award show held once a year.
Scott Nielson of the Nevada Resort Association is hoping the board will consider putting together a list of events that could be considered for wagers on an ongoing basis, like the outcome of entertainment award shows. These might include the Grammys, Emmys, and the Academy Awards. Possibly people might even be able to bet on the winner of TV shows like “The Voice.”
Banned Sports Betting Activities
One thing that has always been and always will be banned from betting is election outcomes. The proposed amendment has in it the intent to prohibit “the outcome of any election for any public office both within and without the state of Nevada.”
Timeline for the Proposed Amendments
Ms. Harris said that the board will consider the testimony presented during the hearing and might modify the amendments for reconsideration within the next few weeks.
Nevada has been the gold standard for sports betting within America. However, with an evolving industry booming in other states, Nevada needs to make some improvements in order to keep up with the industry’s changes and to offer bettors similar options as other states do.
As a longtime freelance writer, avid sports fan, former athlete, and experienced sports bettor, Rick Rockwell has risen up the ranks at GamblingSites.org to become the self-professed "King of the Blog" in his first year with the site. ...
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