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Summary
- The board approved the amendments 2-0.
- The Nevada Gaming Commission must also approve.
- esports competitions already take place in Nevada, but no betting is allowed.
The esports video game competition industry is booming and is only expected to continue to grow over the next few years. Such competitions are streamed around the world and watched by tens of millions of people. In Nevada, the opportunity to bet on such events is on the horizon after recent regulatory approvals.
The Nevada Gaming Control Board recently approved amendment changes to allow wagering on esports. The Board was down one member and voted 2-0 in approval. Now, the changes move on to the Nevada Gaming Commission. If approved, esports betting can begin immediately.
Changing Up Traditional Sports Betting Regulations
The approved amendments this week are connected to Regulation 22 in Nevada. This measure offers guidelines for sports betting in the state and was restricted to traditional wagering. With the changes, the regulation would now include esports. Managers of sportsbooks would be in charge of monitoring and reporting any issues to members of the Board for review.
The regulations do not allow those connected to esports to bet on events. This includes players, coaches, managers, or agents. These are the same rules that apply to standard sports betting services. The new regulations were created by the Esports Technical Advisory Committee which started working on the changes in March.
Regulators have plans to monitor how much wagering takes place in esports and if further amendments are needed for regulations in the future. Considerations may be given to the age of competitors or performance enhancing drug use during competition.
Will esports Betting Be Successful?
esports is already big business in Las Vegas thanks to regular events that are hosted within the HyperX Arena. The Luxor is home this arena where in-person tournaments are hosted along with online options. Other venues in the area are looking to host esports events including The Venetian’s MSG Sphere.
It is unclear just how successful the esports betting industry will be. Are there enough people in the age range old enough to bet that want to place money on the outcome of competitions? Regulators and industry members are unsure if the interest is there.
Nevada will essentially be a leader in this new market and hopefully on the driving end of a gambling trend. Only time will tell if esports betting will take off and become the next big thing in wagering. First, the Commission needs to sign off on the regulatory changes and then services get started before we have any idea just how popular this format of wagering will be.
