Daily Fantasy Sports Offerings In Nevada
Playing daily fantasy sports in Nevada
Nevada classifies daily fantasy sports (DFS) as a form of gambling. While gambling is legal in Nevada, running a gambling establishment requires a license. In 2015, when the major DFS operators in the US learned of this, they stopped accepting entries from players in Nevada and withdrew their operations from the state.
In 2016, executives from FanDuel and DraftKings participated in a Nevada Gaming Policy Committee hearing about DFS licensing. They suggested regulatory changes that could alter the state’s perspective on DFS operators. However, their efforts were unsuccessful in modifying the state’s DFS policy. Consequently, DFS sites continue to be excluded.
DFS operators were invited by state regulators to apply for gaming licenses in the state. However, only one company, USFantasy, has taken up their offer. USFantasy was granted a license to run a DFS-style pari-mutuel game and currently operates it in over 40 sportsbooks statewide.
Daily fantasy sports regulation in Nevada
Nevada asserts that it has the authority to regulate Daily Fantasy Sports (DFS) just like any other form of gambling within its jurisdiction. In October 2015, the Nevada Gaming Control Board along with the state’s Attorney General’s office, proclaimed that running a DFS competition equated to gambling. As a result, major DFS providers like DraftKings and FanDuel, among others, promptly withdrew from the state.
In 2016, the Gaming Policy Committee of the state started exploring different options to the conventional licensing and regulation for DFS operators. DraftKings and FanDuel themselves proposed draft legislation, which was reviewed by the committee. The draft bill was essentially a combination of DFS legislation and laws implemented in other states.
However, the committee and Nevada Governor Brian Sandoval ultimately decided that there is no need to alter the existing regulatory framework for DFS.
DFS is presently lawful in Nevada, although it mandates a license, which is a requirement for all gaming forms in the state.
DFS operators interested in Nevada are still being asked to apply for gaming licenses by state regulators.
Nevada’s Attorney General on daily fantasy sports
Adam Laxalt, the Nevada Attorney General, assumed office in January 2015. Later that year, in the fall, he expressed his opinion that DFS operators needed a gaming license to keep accepting players in Nevada. Following this, the state’s gaming regulators informed the biggest DFS operators, who consequently withdrew from the state.
Sandoval summoned the Nevada Gaming Policy Committee to discuss the issue. Ultimately, the committee supported Laxalt’s perspective on the subject.
In 2017, a story about the Oakland Raiders of the NFL moving to Las Vegas was published by ESPN. The report alleged that a conversation between Sandoval and Jerry Jones, the owner of the Dallas Cowboys, about DFS regulation took place.
Sandoval vehemently refuted any claims that he had discussed DFS with Jones. He reaffirmed his endorsement of Laxalt’s initial viewpoint that fantasy sports are a form of sports betting, and therefore necessitate a gaming license in Nevada. Furthermore, he stated that Nevada has yet to modify its regulatory system or suggest any amendments to its laws to cater to any particular business, including DFS operators.
Nevada’s biggest daily fantasy sports sites
Thus far, only USFantasy has applied for a gaming license in Nevada. The company not only applied for, but also received a license to run a DFS-style pari-mutuel game. Currently, USFantasy operates in over 40 sportsbooks in Nevada.
Skilled fantasy sports contests in various sports are offered by USFantasy Sports.
- Football
- Basketball
- Hockey
- Baseball
- MMA
- Boxing
- Golf
- NASCAR
It also provides shared pool betting options for sports. These are similar to placing bets on who will score the first point in a specific game. You can place bets on these sports propositions in the same manner as you would in a horse race.
How popular is daily fantasy sports in Nevada?
Nevada was a relatively large market for DFS before major DFS operators withdrew from the state in 2015.
Estimates indicate that DFS websites were generating over $4 million annually in revenue from Nevada players. Indeed, around two percent of all DFS contest entry fees in the United States in 2015 were accounted for by the state.
It is projected that Nevada had over 11,000 active DFS players. These players contributed to over $42 million in yearly entry fees, placing the state among the top 15 in the US in that category.