Control Board OKs Nevada DFS
June 09, 2016 9:28 AM
by Phil Hevener
Daily fantasy sports betting may soon be available at Nevada sports books, thanks to the imagination of Hall of Fame bookmaker Vic Salerno and the approval of Nevada gaming regulators.
The Gaming Control Board approved Wednesday Salerno’s plan for a company to be known as U.S. Fantasy. It may be in operation in time for the coming football season, assuming the Nevada Gaming Commission signs off on the idea later this month.
U.S. Fantasy will be using a pari-mutuel platform, customers making wagers just as though they were betting on horses.
“What we’ll be doing,” Salerno told GamingToday before Wednesday’s hearing is substituting human athletes for horses. The idea is so simple I’m surprised no one has done it before now.”
Salerno expects to offer a jackpot prize of at least a million dollars and perhaps more than that to anyone making a successful Pick 7 wager.
How would it work?
In the case of football, which is expected to get most of the action bettors would have to pick a quarterback, wide receivers and running backs and athletes at other designated positions who have winning performances during the games covered by the bet.
Salerno and his business partners in U.S. Fantasy decided to get U.S. Fantasy licensed by the state last year after the Gaming Control Board said that any company hoping to offer daily fantasy sports in Nevada would have to receive a sports book license.
Executives with DraftKings and FanDuel, companies controlling the bulk of the daily fantasy sports market had told Nevada regulators that too many regulations would ruin their business. They chose not to apply for the licenses that Salerno appears on his way to receiving.
Salerno believes he has found a path through the regulations as he moves toward the marketing of his new business, which he said has already been well received by sports books in Nevada and race tracks in California
Phil Hevener has been writing about the Nevada gaming business for more than 30 years. Email: PhilHevener@GamingToday.com.