NGCB Hearings to Change Nevada’s Regulatory Framework

The Nevada Gaming Control Board (NGCB) is set to hold hearings that could lead to changes in the gaming sector in the state. 

The main purpose of the meeting is to clarify the definition term “wagering account” and if this is changed it could lead to significant changes for the industry. This will allow for more cashless transactions, which allow for the growth of the industry. 

Furthermore, the meeting will explore whether it can differentiate between wagering vouchers and wagering accounts. The new definition, the Gambling News platform reported, would lead to a conversation that could change interactive gaming and peer-to-peer betting beyond online poker.

Hearings into this and 15 other suggested changes were initially supposed to take place in May but were pushed back further to allow for more participation.

ZenSports at forefront of changes

Changes to the regulatory framework follow recommendations by the ZenSports’ Gaming Control Board to “build a mousetrap in the sports wagering sector.” ZenSports is trying to revolutionize the Nevada gambling sector with the recommendation, it was reported.

The changes are being championed by Mark Thomas, ZenSports Director, and Chief Financial Officer, whose aim is to deliver a peer-to-peer experience to users. The changes will also allow bettors to wager against someone they are playing in a game and also to include cryptocurrencies in the wagering sector.

Thomas has already made a presentation to the NGCB and he got approval to lead the initiative.

Thomas’ initiative has, however, drawn the ire of operators of land-based casinos, who fear that this could deprive them of revenue.

Adam Corrigan of the Corrigan Companies recently wrote to the NGCB, arguing that gaming companies in Nevada had spent billions of dollars on building world-class entertainment resorts. Corrigan feared that online gaming could lead to fewer customers visiting land-based casinos and that revenue for states could dwindle.

ZenSports gets Nevada license

ZenSports operates a mobile sports betting app that offers consumers more choices. It recently received a non-restricted gaming license from the NGCB.

The non-restricted gaming license allows ZenSports to: 

• Exercise its option for the Big Wheel Casino that it obtained from Strategic Gaming Management in July 2020.
• Begin operating its sports betting platform at the Big Wheel Casino (pending final technical certification).
• Exercise its option with Strategic Gaming Management to take over the sports book at Baldini's and operate ZenSports from that location.
• Pursue additional sports betting locations and expand ZenSports throughout Nevada as the company grows.

Commenting after receiving the license, Thomas said: "It's not easy to get licensed in Nevada, and Nevada is the gold standard for licensing throughout the world. This puts us in a great position to be able to get licensed in other states throughout the U.S. as we grow and expand. It's also a huge win for the state of Nevada because they're getting an innovative, hard-working company that is looking to grow and become an integral part of the Nevada gaming ecosystem for many years to come."