OKBET ESPORTS : A regulatory initiative in Nevada intends to legalize esports betting by 2023

OKBET ESPORTS : A regulatory initiative in Nevada intends to legalize esports betting by 2023




The Esports Technical Advisory Committee of the state of Nevada is collaborating with the office of the state’s Attorney General to devise a regulatory structure that will make it possible to wager on esports by the beginning of the next year.

On October 24th, the committee will get together again in order to examine and finalize the regulations that will be offered for consideration to the Nevada Gaming Control Board (NGCB) initially, and then to the Nevada Gaming Commission in the future. It is believed that the regulatory proposal will make it possible for bookmakers to place bets on esports matches without first requiring special authorisation from the NGCB.

John Michela, Senior Deputy Attorney General, testified in front of the committee that “the overriding objective of the proposed reforms will allow licensed bookies to accept wagers on esports events in the manner in which traditional athletic events are typically bet upon.”

Additional ‘due diligence’ requirements would be imposed on bookmakers as a result of this regulation. This includes providing quarterly updates to Nevada’s regulatory bodies on all of the esports leagues and tournaments on which it has accepted wagers.

In the case that there is a problem, the chair of the NGCB will be given the authority to prohibit bookmakers from collecting wagers on specific esports competitions. In the meanwhile, bookmakers will have the ability to submit a request for a review in the event that they believe a particular event or league should be open to wagering.

Paul Hamilton, who chairs the committee and is also the chief executive officer of Atlanta Esports Ventures, led a discussion about developing language to approve particular tournament organizers or game developers. This would help iron out kinks like additional applications and regulatory approvals. “It’s about giving operators the flexibility that they need, but giving us the comfort we’re looking for to make sure that it’s all done well,” said Hamilton. “It’s about giving us the ability to make sure that everything is done correctly.”

According to Jud Hannigan, a member of the committee and the chief executive officer of Allied Esports, this action would “provide a significant road to the advancement for our objective here.”


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