Parimutuel Event Bets Allowed In Nevada

There is going to be a major change that will be seen in Nevada’s casinos and gambling rules.

It is going to benefit the sports book in Nevada to a great extent. The Nevada Gaming Commission has unanimously approved a set of new rules that was framed. The meeting to approve the rules was held on June 22, 2017. As the new rules have been approved, it has come into force from July 1st. This is great news for everyone involved in gambling in Nevada.

The Nevada gaming regulators earlier did not allow the casinos in Nevada State to accept the pari-mutuel bets for nontraditional events. This was in force for the professional sports drafts and e-sports. Now, that the betting is allowed, the sports book and the bettors will be able to win good cash. There are as many as 190 sports books in the Nevada region.

The new pari-mutuel bet for Nevada is defined as follows, “Any system whereby wagers […] are placed in a wagering pool […], and in which the participants are wagering with each other.” This is a very good development for the sports book and the bettors at large in the Nevada State region.

They were allowed to bet on popular events like the World Series of Poker main event final table as a non-parimutuel bet. But, from now, with the new law passed, the sports book can bet as a parimutuel bet.

Without the allowance of pari-mutuel bet options, the sports book of Nevada had gained just $223,617,000 from the gamblers and they were seeing a huge decline of about 7.5 percent year-over-year. This will all change now after the new regulations have come into effect. A piece of the legislation successfully passed the last session to give the regulators in Nevada the chance to approve the new set of rules.