To bet, or not to bet…on esports? For several years, that’s been a question looming over the nation’s gambling capital — Las Vegas, Nevada. Nobody was sure where esports betting fell on the legality scale. Sure, it was happening — but in a decidedly gray area.
Things, however, are now clear; because as of July 1st, esports betting will be legal in Las Vegas. Ante up!
Nevada’s Esports (And Oscars?) Betting Bill
State representative Becky Harris sponsored Nevada Senate Bill 240 (“S.B. 240”), and Governor Brian Sandoval signed it into law. Esports legend Johnathan ‘Fatal1ty’ Wendel also played a role in the ratification process: He explained to politicians the importance of classifying esports gamers as athletes.
In addition to esports, S.B. 240 also opens the door for betting on entertainment awards shows like the Oscars and Grammys.
Want An Esports Gambling License? Go To The Nevada Gaming Commission.
Nevada’s esports gambling bill states: “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.”
So, starting July 1st, 2017, the Nevada Gaming Commission (“NGC”) will be in charge of issuing licenses permitting the administration of parimutuel wagering and off-track parimutuel wagering. The NGC may also amend, adopt, and repeal regulations.
The NGC may request licensees’ fingerprints, in addition to information vis-à-vis their backgrounds, habits, and overall character.
Nevada’s Esports Betting Bill: 3% Operating Fee to NGC
The law also requires licensees to submit quarterly payments — 3% of the total amount wagered on any esports event — to the NGC. In turn, the NGC must give at least 95% of the collected fees to the State Treasurer for the State General Fund.
Connect With An Esports Agent and Attorney
Kelly / Warner is a full-service, boutique law firm that works with esports athletes on everything from contract negotiations to dispute settlement. We also work with teams and leagues. Interested in learning more? Please head over to the esports law section of our website.
Tucker, J. (2017, June 07). Nevada governer passes “esports betting bill”. Retrieved June 14, 2017, from http://www.esports-pro.com/articles/business/nevada-governer-passes-esports-betting-bill