Nevada could be introducing cashless sports betting.
The Nevada Gaming Commission (NGC) is set to conduct a public hearing on June 25 to consider permitting bettors to establish and fund sportsbook accounts via their mobile phones, without the initial requirement of visiting a casino.
What would cashless betting mean?
The details of what the commission will discuss about cashless gaming are outlined in the meeting notice.
“…to remove the ban on electronic funds transfers from a financial institution to a game or gaming device; to incorporate a new section that regulates electronic money transfers through a debit instrument to a game or gaming device; and to undertake any further necessary and appropriate actions to achieve these stated objectives.”
Should approval be granted, sports bettors in Nevada will have the option to establish a mobile sports betting account without the necessity of first visiting a physical sportsbook.
Furthermore, they might have more accessible methods to utilize sportsbooks and evade associated costs. Players of video poker, keno, and slots could also fund through casino apps and indulge in their preferred games.
Nevada mobile betting stuck in 2010
Since 2010, sports betting apps have been legal in Nevada.
Cantor Technology, now known as CG Technology, initiated its first race and sportsbook at Tropicana as a mobile gaming operator. Now, nearly all sportsbook operators in the Silver State provide an option for mobile sports betting.
In Nevada, individuals wishing to bet on sports must physically go to a retail sportsbook located within a casino to set up a mobile betting account and deposit money. Moreover, they must also go back to the casino’s sportsbook to collect their winnings.
Play+ is an accessible mobile banking choice for bettors in Nevada, however, it comes with associated fees.
Many sportsbook operators and sports bettors have been eagerly awaiting for the NGC to approve mobile account registration and funding options.
Regrettably, the Nevada Gaming Control Board has consistently denied in the past.
So, why change app registration now?
Nevada is losing its influence in the sports betting industry due to a lack of mobile funding. Many states where gaming is legal, such as New Jersey and Pennsylvania, provide bettors with a range of mobile betting alternatives.
During the coronavirus pandemic, sports bettors in Nevada have had even less betting options.
In March, Governor Steve Sisolak of Nevada ordered all casinos to shut down. In the absence of many live sports events, there were not many live betting options. During the closure of NV casinos, residents placed bets on table tennis and esports.
Existing Nevada account holders had access to only four mobile sportsbook apps. The closure of casinos made it impossible to sign up for a sportsbook account. However, to solve this issue, a few Nevada sportsbook operators began providing curbside service, enabling bettors to open and fund their mobile sports betting accounts.
Several compelling reasons exist for enhancing the cashless experience.
Cashless gaming, for one, reduces the number of surfaces casino gamblers have to touch.
Secondly, the ability to create a new sports betting account without having to visit a Nevada casino should motivate more individuals to place bets on sports.
Finally, if retail sportsbooks are closed again, it will simplify the process of betting on sports.
