Final language will be drafted by the Nevada Attorney General’s office to permit state gaming regulators to offer wagering on athletic events in which Nevada college teams participate.
The final draft will be discussed by the Nevada Gaming Commission at its December meeting with the prospect of adopting the new regulation at the January meeting.
The commission has given the state lawyers these parameters:
To provide for wagering on collegiate sport or athletic events, and
To continue to prevent wagering on amateur non-collegiate sport or athletic events, and
To prohibit wagers on any collegiate sport or athletic event which the licensee (bookmaker) knows or reasonably should know, is being placed by or on behalf of a coach or participant in that collegiate event, and
To require that each licensee take reasonable steps to prevent the circumvention of this regulation.
Obviously, the person taking the wager can have no knowledge whether the action is coming from a coach or player but the regulators feel that by exercising reasonable care the books will be able to identify the source of the wager.
The commission’s actions stems from comments made by NCAA officials suggesting that Nevada bans wagering on its own colleges for the same reasons the NCAA would prohibit wagering on all college sports. Commission Chairman Brian Sandoval pointed out that the regulation is old and out-of-date and needed to be changed.
A recent hearing on the regulation was established by Sandoval in hopes of attracting a representative of the NCAA. However, the organization boycotted the hearing.
In another matter, the commission Monday returned to the Nevada Gaming Control Board for further discussion the proposal that would force casinos to abandon the table limits set on progressive games such as Let It Ride or Caribbean Stud.
Under existing conditions, players make a side bet in hopes of winning the accumulated pool of a progressive payoff. However, the casinos often place a sign on the table saying that it limits aggregate payouts. In other words, if two people were to hit the progressive in the same hand, they would share the jackpot. During discussions among Control Board members, it was felt that setting such aggregate payoffs was not fair to the players.
Under a proposed regulation change, there would be established rules governing and regulating the use of aggregate payout limits.