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February 21, 2018

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Gaming regulators OK pari-mutuel betting on nontraditional events

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Steve Marcus

Football fans watch games during NFL opening day at the Red Rock Resort’s race and sportsbook Sunday, Sept. 13, 2015.

Bettors in Nevada can now place pari-mutuel bets on events like e-sports tournaments, the World Series of Poker and the NBA draft after the Nevada Gaming Commission today unanimously approved changes to rules for wagering on nontraditional events.

The change was prompted by Senate Bill 240, which was passed in the last legislative session and is intended to bring the rules for pari-mutuel betting in line with those of regular sportsbook bets.

Bettors previously could place nonpari-mutuel bets on “other events,” defined as events “other than traditional sporting events, horse, or greyhound races.”

Past examples of “other events” approved by the board include the NBA draft, the NBA most valuable player award and the Heisman Trophy. For instance, the Westgate Superbook has prop bets on tonight’s NBA draft — like the number of Kansas players selected: Over 1.5 at minus-200

Nevada law defines pari-mutuel as “any system whereby wagers with respect to the outcome of a race or sporting event are placed in a wagering pool conducted by a person licensed or otherwise permitted to do so under state law, and in which the participants are wagering with each other…”

The new rule should take effect July 1.