Nevada sports betting updates
Long before SCOTUS overturned PASPA in 2018, Nevada had monopolized the gambling industry in part by legalizing sports betting in 1949. Since then, the Silver State has remained a hub of sports wagering in the U.S. and now offers a blueprint for other states to follow. This timeline illustrates the genesis of Nevada sports gambling and the current state of affairs.
Read below for a detailed timeline of Nevada’s sports betting industry:
July 31, 2024: Nevada’s sports betting revenue jumps 214% year-over-year despite the state’s continued handle drop.
June 27, 2024: The Nevada Gaming Control Board reports a May Nevada sports betting handle of $515.1 million.
June 19, 2024: The Federal Trade Commission has filed a petition in the U.S. District Court of Nevada for information on the MGM cyberattacks last fall.
June 7, 2024: The Fontainebleau Vegas eyes expansion as developer Jeffrey Soffer purchases $112.5 million in land for the new luxury hotel and casino resort.
May 29, 2024: Nevada experiences its second consecutive month of year-over-year decline, seeing a 4.8% decrease in revenue from 2023.
May 27, 2024: The World Series of Poker launches a new online platform and creates a three-state summer series between Michigan, New Jersey, and Nevada.
May 16, 2024: Sunset Station launches the STN Sportsbook in Las Vegas. The newly remodeled betting site promises “a bold new design, over-the-top visuals, and a massive audiovisual experience” for bettors.
May 16, 2024: Nevada’ icon Mirage hotel and casino will close its doors after 34 years.
April 26, 2024: Nevada’s March NCAA revenue plummets YoY after the betting favorites cruise in the 2024 tournaments.
March 28, 2024: Nevada sees a 16% YoY sports betting revenue increase in February, bringing in $47.9 million.
Feb. 29, 2024: Football fuels Nevada’s 28% YoY sports betting revenue increase in January, accounting for $38.5 million of the total $354.5 million earned.
Feb. 16, 2024: NBA Commissioner Adam Silvers maintains that Las Vegas is on NBA’s expansion team list if the league were to add another franchise.
Feb. 13, 2024: Nevada sets new Super Bowl record with $185M handle after hosting the NFL’s premier event for the first time.
Feb. 7, 2024: BetMGM revealed its newly designed app for Nevada sports betting ahead of the Super Bowl.
Feb. 2, 2024: Las Vegas hotel prices soar to new heights for the upcoming Super Bowl, as accommodations are expected to be 30-40% higher compared to last year’s Super Bowl in Arizona.
Jan. 31, 2024: Nevada’s sports betting handle falls in December to $843.5 million, which is a 5% year-by-year decrease.
Jan. 30, 2024: Nevada bettors can expect Taylor Swift-free wagering for Super Bowl LVIII, as Silver State sportsbooks are not expected to offer props involving the pop mega-star.
Oct. 24, 2023: B2B technology firm GAN set to launch its sportsbook platform in Nevada.
April 21, 2023: The Nevada Gaming Commission will modify or eliminate 24 Nevada sports betting regulations without bearing on consumers.
March 28, 2023: The Nevada Gaming Control Board reports a month-over-month and year-over-year decline of $659.4 million in sports wagering handle for the month of February.
Feb. 28, 2023: Nevada’s January sportsbook handle falls short of the monthly record set in January 2022.
Feb. 14, 2023: Nevada sportsbooks suffer betting handle decline during Super Bowl LVII, taking in $153.2 million in wagers.
Feb. 9, 2023: Betfred launches a retail sportsbook in Nevada just in time for the Super Bowl.
Jan. 27, 2023: Betfred receives its Nevada sports betting license following approval from the state’s gaming commission.
Jan. 3, 2023: Revenue from legal Nevada sports betting dropped significantly in November 2022.
Jan. 18, 2023: After nearly two years, Betfred’s application for a sportsbook at the Mohegan Casino at Virgin Hotels Las Vegas will be reviewed in a special meeting by the NGCB on Jan. 25 and 26.
Jan. 3, 2023: Revenue from legal Nevada sports betting dropped significantly in November 2022.
Nov. 30, 2022: Sports betting revenue in Nevada topped $50 million in October.
Oct. 24, 2022: The Nevada Esports Technical Advisory Committee unanimously approved Nevada’s first esports betting competitions regulations. Next, the Nevada Gaming Control Board (NGCB) and Nevada Gaming Commission (NGC) will conduct public hearings before a vote is taken.
Sept. 29, 2022: In light of the settlement between the Nevada Gaming Commission and William Hill, state regulators believe they are sending a firm message to other sportsbooks that reporting delays won’t be tolerated and that harsh penalties could befall those who ignore the warning.
Sept. 22, 2022: The Nevada Gaming Commission fines William Hill $100,000 for a series of infractions concerning deficiencies with the sportsbook’s betting system.
Aug. 30, 2022: Nevada’s sports betting handle in July takes a significant drop — falling by double digits for the second-straight month.
Jul. 28, 2022: With its June handle of $490.5 million, Nevada becomes the second U.S. state (New Jersey) to surpass $25 billion in total handle since PASPA was overturned in 2018.
May 27, 2022: Nevada saw its sports betting handle hit a monthly record in April, reaching $582.5 million.
May 2, 2022: March Madness gave the Nevada sports betting handle a nice lift for March but missed out on hitting the billion-dollar mark.
April 28, 2022: Las Vegas hosts the 2022 NFL Draft, which sees Travon Walker taken first overall by the Jacksonville Jaguars.
April 19, 2022: Circa Sports announces it will expand its Nevada operations to include a brand new sportsbook at Legends Bay Casino in Sparks. The casino expects to open this summer.
Jan. 20, 2022: The Nevada Gaming Commission approves remote registration for casino accounts only. Momentum to allow sports bettors to sign-up remotely could be building, however, as Nevada is one of only two states (Illinois) to require in-person sportsbook registration.
Dec. 16, 2021: Nevada inches toward remote registration as The Nevada Gaming Control Board (NGCB) recommends sports bettors be permitted to sign up from anywhere in the state. The Nevada Gaming Commission will consider the proposal on Jan. 20, 2022.
Nov. 30, 2021: Nevada’s sportsbooks registered $1.1 billion in wagers during the month of October — the first time the state’s monthly handle has hit that mark.
Nov. 2021: Caesars and Red Rock Resorts announce plans for new Nevada sports betting platforms for 2022, igniting hopes that they may allow for remote registration.
Oct. 2021: DraftKings announces it will open a new office in Las Vegas, hoping to bring over 1,000 employees to the state by 2022.
April 2021: Caesars acquires William Hill for approximately $4 billion.
March 2021: Nevada introduces SB 165, the first step towards creating an official commission governing esports in the state.
Jan. 2020: Despite its first full year of competition, Nevada sets record highs in both sports betting handle ($5.3 billion) and revenue ($329.1 million).
May 2018: SCOTUS overturns the Appeals Court decision, ruling that PASPA is unconstitutional.
Feb. 2013: Assembly Bill 114 is approved, allowing Nevada to enter pacts with other states to offer internet-based poker, and other similar items.
March 2011: The state introduces AB 258, which amends the Interactive Gaming Legislation introduced in 2001 to establish a complete framework for the regulation of interactive gaming.
June 2001: Internet gaming, or interactive gaming, is introduced in Nevada.
Oct. 1992: The Professional and Amateur Sports Protection Act (PASPA) is passed, prohibiting states from offering any form of gambling on professional or amateur sports. Nevada, however, is exempt from this law, getting ‘grandfathered’ out of the legislation.
1975: Nevada Legislature authorizes race and sports betting to be offered in casinos.
1959: The state passes the Gaming Control Act, establishing the Nevada Gaming Commission, whose role is to act upon the recommendations of the Gaming Control Board and be the final judge of gaming licensing issues.
1955: Nevada State Legislature creates the Gaming Control Board as the state’s economy becomes more and more dependent on gaming.
1949: Sports gambling is legalized in Nevada, and the state begins allowing betting at ‘turf clubs,’ which are independent of casinos.
1945: Nevada Legislature shifts licensing authority from the local and county level to the state.
1931: Governor Fred Balzar signs AB 98 into law, which legalizes casino gambling in Nevada.
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Publish date : 2024-07-31 21:39:00
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