Nevada gaming attorneys caution lawmakers on sports betting

The National Council for Legislators from Gaming States Conferences assembled in San Diego last weekend. Nevada was represented in the conference by Senator Keith Pickard and attorneys Kate Lowernhar-Fisher and Dan Reaser. 

More than 40 legislators from 20 different states attended the conference along with 200 gaming operators, suppliers, sports executives, analysts, regulators as well as public officials. 

Lawmakers gathered to discuss plans about legalising sports betting more widely. For instance, San Diego collected $30 million in revenues from sports betting last month. This comprised around 3% fo the state’s total gambling revenue. 

Maloney, who represents tribal gaming interests in California pointed out “that sports betting revenues amounted to roughly 5% of the total wagers placed by sportsbook customers-a single-month record of $614 million.”

Lawmakers on sports betting

“If you’re treating sports betting as a taxing issue, you need to understand the other side of balance sheet,” Maloney. “Don’t just hand it off to some taxing agency and forget about it and bury your head in the sand. It’s a huge responsibility.”

Kate Lowenhar-Fisher, a gaming attorney with Dickinson Wright in Las Vegas said, “The margins for sports betting are really, really small. Make sure you’re not killing the industry before it gets off the ground by virtue of your taxing structures.”

Some legislators also raised their concerns about the actual projected figures associated with sports betting. While other experts believe that there is room for growth in the U.S. sports betting market, especially in states that are yet to legalise the activity. 

Legislators also recognised the importance of integrating mobile sports wagering. For instance, William Hill US operates sports books and mobile sports wagering apps in ten different states. 

MGM also signed different sponsorship deals with major sports leagues and teams including as the NBA, NFL, MLB, and NHL. 

The US sports betting market is still behind when compared with the European but experts believe that the US market has potentials to grow. 

Is sports betting legal in the US?

Sports betting is now legal in 14 states across America, giving each state the freedom to decide on legalising and organising sports betting operations. 

Since the ruling, 14 states have legalised the activity including; New York, New Jersey, Pennsylvania, Indiana, Iowa, West Virginia, Rhode Island, Mississippi, Oregon, Illinois, and Tennessee.

According to the American Gaming Association. Since the ban was lifted, Americans have wagered $16 billion on sports betting. 

 While some states are already up and live with sports betting website and apps others have legalised sports betting pending a launch date. 

Sportsbetting in Nevada

Nevada’s legal sports betting scene has not been affected significantly by the Supreme Court’s decision since many casinos already featured online and mobile sports betting platforms allowing players to wager within the state. 

Nevada requires all gamblers to register and place a minimum deposit in person at a land-based casino location before placing an online bet.

I'm Adam Shaw, Senior Editor and one of the first members at VegasSlots. I'm a massive football sports fan but also love casinos and occasional trips to Las Vegas. Gaming runs in the family

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