Wagering Account Workshop Back On Schedule For Nevada Gaming Control Board

On August 18 at 9:00 am, the Nevada Gaming Control Board (NGCB) is set to conduct a public workshop. The workshop’s agenda includes the discussion of amending the definition of “Wagering Accounts” along with other topics raised.

If this rings a bell, it’s because it was first planned for May. The original workshop had the agenda to talk over the requirements of in-person registration for new sports betting accounts and online casino gambling.

As sports betting grows across the country, wagering accounts are becoming a popular subject. While most states allow the establishment of these accounts remotely via a computer or mobile device, Nevada does not provide this convenience.

Nevada online gaming expansion up for discussion

This workshop was originally planned to cover the expansion of online gaming. However, the updated announcement specifies that it will solely focus on wagering accounts.

The aim of the workshop, which is to amend the Nevada Gaming Commission Regulation 5.225(1)(d), will encompass discussions on the following topics:

• Clarify that the term “wagering account” does not refer to an electronic ledger whose only purpose is to record and track wagering vouchers. The validity and value of these vouchers are determined, monitored, and maintained by a licensee’s cashless wagering system. This electronic ledger is also not used to communicate with the licensee’s cashless wagering system to help a patron use and redeem the stored and tracked wagering vouchers.
• Include a reference to the definition of “wagering voucher” as outlined in the Nevada Revised Statutes.
• Revise the subsection to align with the Commission’s current drafting standards.
• Rewrite this: Replace the term “electronic ledger” in the existing exemption for clarification purposes.
• Carry out any necessary and appropriate additional actions to achieve this stated goal.

The many intricate details and legal terms associated with law can sometimes lead to confusion. However, as sports betting continues to grow across the country, it is paving the way for technological advancements in sportsbooks.

Nevada seems to be lagging behind states that have been permitted to expand upon the sports betting foundation initiated in the Silver State.

In-person registration is a reason for the lack of new Nevada blood

Some new sportsbook operators have refrained from entering Nevada due to its in-person registration requirement. For instance, FanDuel has been operating all Boyd Gaming sportsbooks across the country, excluding Nevada, for over two years through an existing agreement.

FanDuel is currently not accessible in any of Boyd Gaming’s Las Vegas casinos including The Orleans and Gold Coast. The software for the existing B-Connected Sports app is provided by IGT. Indicatively, FanDuel plans to enter the market as soon as the requirement for in-person attendance is removed.

DraftKings may be planning to open a retail sportsbook at Golden Nugget, due to a deal announced earlier this week. There is currently no set schedule for the rebranding, and no information on when the app may become available. It’s conceivable that Las Vegas and Laughlin may be among the final rebranded sportsbooks on DraftKings’ priority list, as the company may not be able to fully launch its product.

Other well-known sports betting apps such as PointsBet and Barstool Sportsbook have not contemplated entering the Nevada market. In the previous year, Penn National Gaming, which owns Barstool Sportsbook, declared that the company would only provide this sportsbook if it established a presence on the Vegas Strip.

Since selling its Tropicana property on the Vegas Strip, the company has no plans to introduce Barstool Sportsbook in Nevada, even though it continues to own M Resort. Penn National Gaming has confirmed this. The new owner of Tropicana, Bally’s Corp., will be releasing its new sportsbook app later this year. However, Bally’s Corp. has not yet revealed the future plans for the property.

Workshop comes on heels of Caesars new sports betting app

The scheduling of the workshop is intriguing.

Caesars revealed plans last week for its new sports betting app targeted at the US market. The company clarified that the app would not be accessible in three areas that prohibit remote account registration, namely, Nevada, Illinois, and Washington, DC.

Caesars is not the only sportsbook operator that utilizes a unique Nevada sportsbook app separate from the rest of the country. Other operators like Circa, BetMGM, Westgate, and Wynn also use distinct sports betting apps in Nevada compared to other parts of the country.