Nevada governor gives eSports betting bill the thumbs up

Nevada governor gives eSports betting bill the thumbs up

eSports betting will soon be legal in Nevada after state governor Brian Sandoval signed a bill amending the pari-mutuel wagering rules.

Nevada governor gives eSports betting bill the thumbs upSenate Bill 240, sponsored by Clark County Republican Sen. Becky Harris, was signed into law by Sandoval over the weekend, paving the way for the addition of “other sports” to the pari-mutuel wagering category, including eSports and proposition bets on awards shows like the Oscars and Grammys. The law comes into effect on July 1.

Nevada gaming regulators already allowed betting on eSports, but the bill would formalize such wagering under state law.

Under the new law, the Nevada Gaming Commission (NGC) may issue licenses permitting the conduct of the pari-mutuel system of wagering, including off-track pari-mutuel wagering, and may adopt, amend and repeal regulations relating to the conduct of such wagering.

It gives the state regulators the leeway to appoint an Off-Track Pari-Mutuel Wagering Committee consisting of 11 persons who are licensed to engage in off-track pari-mutuel wagering.

As for regulations, the NGC may require fingerprinting of a licensee and information concerning his antecedents, habits and character.

“The Nevada Gaming Commission shall, and it is granted the power to, demand access to and inspect all books and records of any person licensed pursuant to this chapter pertaining to and affecting the subject of the license,” according to the Senate Bill.

The law provides that licensees shall give quarterly payments to the NGC at the rate of three percent on the total amount of money wagered on any race or sporting event.

The amount paid to the Nevada Gaming Commission must be, after deducting costs of administration which must not exceed 5 percent of the amount collected, paid over by the NGC to the State Treasurer for deposit in the State General Fund.