Back in 2015, Nevada banned Daily Fantasy Sports (DFS) operators from offering their services as they stated these real money bets were very similar to online gambling and would require a license from the state. However, one company was able to come up with a brilliant solution that would let them operate in the Silver State. US Fantasy Sports (USF) just recently received approval from the Nevada Gaming Control Board (GCB), which would allow them to offer DFS bets since it was merged with pari-mutuel wagering; the voting was approved unanimously.
USF Backed by Vic Salerno
It is never a bad idea to have a heavy hitter on your side, and that is exactly what USF has, with Vic Salerno; member of the American Gaming Association Hall of Fame and the chairman of William Hill US. Salerno proposed that DFS sites should be allowed to receive an off-track, pari-mutuel sports system operator’s license, and it seems that his strategy worked. This will be the first site to offer fantasy sports betting through Nevada casinos.
Sports betting is a growing market, especially in Nevada, as they are the only state in the US where it is legal to do so. The numbers continue to grow, with $2.4 billion earned in 2006, $4.2 billion reached in 2015, and it is estimated that in 2016 it would reach $5 billion. By introducing DFS, it will certainly increase the revenue generated from sports betting.
One Step Closer to State-Wide DFS
Back in October 2015, the GCB regulators decided that fantasy betting was wagering under state law, which in turn required that these websites be licensed; which meant needing to have a casino to back them up. Now with this solution being enacted and allowing DFS back into the state, it will open doors to the once-shunned DraftKings and FanDuel, who said that,
“Regulations could kill innovation in the technology of daily fantasy sports.”
The state of Nevada still views DFS as a form of online wagering and will continue to require that it be regulated in order to protect the public. It will require work from both parties in order to become another reason Las Vegas, its casinos, and sports betting is so popular.