The Nevada Gaming Control Board (NGCB) will hold a public workshop to discuss amending the definition of “Wagering Accounts” on August 18 at 9:00 am. The board will discuss this and other topics brought up.
If this sounds familiar, it’s because this was scheduled for the first time in May. The initial workshop was to discuss in-person registration requirements for new sports betting accounts and online casino gambling.
Wagering accounts are a hot topic as sports betting expands throughout the country. Most states offer remote account setup from a computer or mobile device. Nevada does not allow this convenience.
Nevada online gaming expansion up for discussion
Previously, this workshop was scheduled to include the expansion of online gaming. The new announcement of this workshop is only for wagering accounts.
The intent of the workshop, amending Nevada Gaming Commission Regulation 5.225(1)(d), includes discussions on the following:
- Clarify that the term “wagering account” does not mean an electronic ledger used solely to record and track wagering vouchers whose validity and value are determined, monitored, and retained by a licensee’s cashless wagering system and/or to communicate with a licensee’s cashless wagering system to facilitate a patron’s use and redemption of the stored and tracked wagering vouchers
- Add a reference to the definition of “wagering voucher” found in the Nevada Revised Statutes
- Reformat the subsection to conform with current drafting standards used by the Commission
- Replace the term “accounts” with “electronic ledger” in the existing exemption for clarification purposes
- Take such additional actions as may be necessary and proper to effectuate this stated purpose
There are so many minutiae when it comes to the law and legal terms that it can get a bit confusing at times. The expansion of sports betting around the country is allowing forward technological advancements for sportsbooks.
Nevada appears to be falling behind states that are allowed to build on the sports betting foundation started in the Silver State.
In-person registration is a reason for the lack of new Nevada blood
In-person registration is one reason some new sportsbook operators have avoided entering Nevada. For example, FanDuel has a deal to operate all Boyd Gaming sportsbooks throughout the country. This has been active outside of Nevada for more than two years.
FanDuel is not available at any of Boyd Gaming’s Las Vegas casinos such as The Orleans and Gold Coast. IGT provides the software for the current B-Connected Sports app. Anecdotally, FanDuel will enter the market once the in-person requirement is lifted.
DraftKings might have its sight set on opening a retail sportsbook at Golden Nugget thanks to a deal announced earlier this week. There’s no timeline for the rebrand and no word on if or when the app will be available. It’s possible Las Vegas and Laughlin will be among the last rebranded sportsbooks on DraftKings list of priorities since the company might not be able to launch its product at full capacity.
Other popular sports betting apps like PointsBet and Barstool Sportsbook haven’t considered launching in Nevada. Last year, Penn National Gaming, owner of Barstool Sportsbook, said the company would only offer this sportsbook if the company had a Vegas Strip presence.
The company has since sold its Vegas Strip property, Tropicana. Penn National Gaming has no plans of bringing Barstool Sportsbook to Nevada even though it still owns M Resort. The new owner of Tropicana, Bally’s Corp., will be launching its new sportsbook app later this year but hasn’t announced plans for the future of the property.
Workshop comes on heels of Caesars new sports betting app
The timing of the workshop is interesting.
Last week, Caesars announced plans for its new sports betting app for the US. The company stated that three regions that do not allow remote account registration — Nevada, Illinois and Washington, DC — will not be able to use the new app.
Caesars isn’t the only sportsbook operator that uses a different Nevada sportsbook app from the rest of the country. Circa, BetMGM, Westgate and Wynn have different sports betting apps in Nevada than in the rest of the country.