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Nevada Governor Signed a Bill that Allows eSports Betting
- May 31, 2017 By Oliver Young -
The state of Nevada has been the capital state of the US gambling industry for years, even decades. Even though there are other states where gambling is legal, Nevada with the gambling mecca that is Las Vegas has always taken centre stage.
Nevada always tries to stay on top of things, by adjusting its legislation to accommodate the novelties that have been introduced in the industry over the years. Last year, Nevada Gaming Control Board accepted the application of USF that allowed the company to combine daily fantasy sports with pari-mutuel betting.
When the new Trump administration assumed its position in the White House, some were worried over the effect that it will have on the gambling industry in Nevada and the country as a whole. Earlier this year, the governor of Nevada, Brian Sandoval, met Jeff Sessions in Washington to discuss many issues, including gambling. And few months later it seems that for the Nevadan gambling industry it’s ‘business as usual’.
eSports Pool Betting Will Now Be Available
It seems that legislative reform is a permanent process in Nevada. It has been confirmed that Governor Sandoval signed the bill that is going to amend the provisions regarding pari-mutuel betting. The new bill will also permit betting on eSports. It was introduced in the Senate as Bill 240, and it was submitted by Republican Senator Becky Harris of Clark County.
The law was passed by the Senate and Sandoval signed it soon afterwards. Under the provisions of this bill, pari-mutuel betting is now also allowed on other sports, which means that eSprots will also be included. Furthermore, punters will also be able to place wagers on awards ceremonies like the Oscars.
In practice, as we noted above, Nevadan regulators permitted eSports betting, but now under the new law this type of betting will be formally legalised. This bill will be effectively become a law on the first of July this year. The Nevada Gaming Commission will be the body in charge of licencing operators that would like to organise pari-mutuel wagering, and that includes off-track wagering.
Nevada Gaming Commission Is In Charge of Regulating
The NGC has the rights to investigate holders of licences, check their records, books, as well as information on any of their employees. This will ensure that the NGC will be in a position to evaluate the work of the licence holders and be able to determine whether all operators work in accordance with the law.
Licence holders will be required to make annual payments to the NGC. This way of financing the NGC will guarantee that it will remain an impartial and on top of things. The payments will amount to 3% of the amount that that has been wagered on an event.
The NGC will then be required to deposit some of the received funds to the State Treasurer and in the State General Fund. The full text of the law, following the introduced amendments is now available online.