The Nevada eSports Technical Advisory Committee announced that it would begin formulating its eSports betting recommendations next month. The committee was established in 2020 after US state lawmakers requested a means to standardize the betting process in the segment.
This week, the entity met for the second time. Several data providers held presentations. They detailed how their products can help develop an eSports focused betting platform.
Committee member Seth Schorr said the meeting was productive and provided the group with the information needed to make recommendations. Schorr is the CEO of Fifth Street Gaming, a Las Vegas-based hospitality and casino management company. According to him, Nevada will soon be able to allow eSports betting without fear of integrity violations.
Current sports betting regulations may suffice
The most significant point of disagreement is whether eSports should fall under the existing Regulation 22. The document mainly concerns sports betting and controls all aspects of its operation. In addition to record keeping bets and multiple bets, the regulation includes the type of bets that can be accepted.
According to Schorr, as long as eSports is defined as a sport, operators should be able to treat it the same once the event complies with regulatory guidelines. The CEO of Fifth Street Gaming drew comparisons to darts leagues that did not require direct approval from the Gaming Control Board. Instead, it was up to the operators to decide whether the event met the necessary qualifications.
As of now, bookmakers need to acquire special permission from the Nevada Gaming Control Board to allow betting on eSports events. This permission only applies to a specific tournament and must be renewed for any new leagues. Committee members agreed that esports betting is similar to betting on traditional sports competitions.
Members of the Nevada organization now need to determine whether there is a need for specific regulation. Esports tournaments can be treated like any other sporting event, as long as the Nevada Gaming Control Board agrees that existing regulatory protections are sufficient to prevent match-fixing and other wrongdoing.
Operators would benefit from new technology solutions
Boyd Gaming’s Vice President of Innovation Eric Bowers also attended the meeting. He proposed several ideas to attract the greatest number of customers once eSports betting has received regulatory approval. He agreed that Regulation 22 is sufficient and that the main focus should be on marketing, branding and a successful launch.
Bowers highlighted the need for a separate betting app focused on live streaming. He expressed confidence that, if handled correctly, the official launch of eSports betting in Nevada would attract significant interest and greatly benefit everyone involved.