Nevada regulators are moving forward with Esports betting regulations setting the stage for a 2023 expansion of its laws.
The Nevada Esports Technical Advisory Committee voted to advance regulations for Esports wagering. Regulations will now shift over to the Nevada Gaming Control Board. Once the board reviews the proposed law changes, it will pass them along to the Nevada Gaming Commission.
If all goes well, the regulation change could help Nevada become a leader in Esports wagering.
What about Esports betting is changing?
Currently, Nevada sportsbooks that accept bets on Esports must seek approval from the gaming board. Under the new regulations, sportsbooks would know which events they could accept wagers on in advance. Thus, they could begin promoting the markets ahead of time.
Such laws could benefit Las Vegas, which might begin hosting major championships and league events. Nevada isn’t the only place considering expanding options for gambling on Esports, though. Earlier this year, New Jersey made it easier to bet on Esports there.
On September 21, Senior Deputy Attorney General John Michela noted the most significant change. Michela said the law was shifting from a per-league basis to a per-event basis.
“This change was made on the committee’s discussion concerning amateur events with prizes sanctioned by esports leagues and the difficulty in defining esports leagues,” Michela said.
“With the proposed regulation before you, the concept of esports leagues is replaced with event organizers. The overarching intent of the potential changes is still to allow licensed books to accept wagers on esports events in the manner of traditional sporting events.”
Still work left to do
Additional regulations require quarterly notifications by sportsbooks to the gaming board on the events they plan on accepting wagers.
The Control Board has the power to prohibit sportsbooks from accepting wagers on events conducted by certain operators.
Committee member Seth Schorr said although the regulations are clear, the committee does have “follow-up work” to complete.
“I don’t want to get ahead of ourselves. But I do hope that as a committee, we have an opportunity to discuss the next steps once we see how the Board and Commission respond,” Schorr said.
“Should they approve these regulations, I look forward to regrouping and seeing how the committee can help the licensees in our industry take advantage of these regulations. My concern is creating regulations that aren’t taken advantage of for any reason, while of course making sure the burden doesn’t fall on the Gaming Control Board, which it has in the past.”