Nevada Gambling Board Gives a Nod to Daily Fantasy Sports Wagering
Daily fantasy sports may return to Nevada following initial approval which was given by the Nevada Gaming Control Board to racing and sportsbook pioneer, Vic Salerno. The approval would allow Salerno to launch a daily fantasy sports wagering service.
According to the Las Vegas Review-Journal the board voted unanimously to recommend that the Nevada Gaming Commission awards an off-track pari-mutuel sports system operator’s license to Salerno and his company, US Fantasy.
US Fantasy may be able to start offering fantasy sports wagering by August if they are granted final approval and this will make them the first company to offer this service at Nevada Casinos.
Salerno told the gambling board at the licensing hearing that he believes that at least 50 percent of wagers on fantasy sports would be from new customers; while some sportsbooks believe this number could be as high as 80 percent.
Sports betting is a fast-growing sector of the gambling industry in Nevada with it bringing in $2.4 billion in 2006, more than $3 billion in 2012 and reaching $4.2 billion last year. In 2016, it is expected to exceed $5 billion. Daily fantasy sports was popular until October when Nevada regulators ruled it constituted sports betting under Nevada law and therefore operators required licenses from the state. This decision resulted in many daily fantasy sports operators closing their doors to Nevada customers.
Salerno, who has 40 years of experience in the industry, developing the first self-service sports wagering kiosk and the first mobile sports wagering app in Nevada, said his company would allow punters to bet on a range of fantasy sports competitions, including American football and baseball.
The Nevada Governor’s Gaming Policy Committee stated it wanted to see fantasy sports offered in Nevada, but that it must be regulated to protect punters.
March 23, 2017