Nevada Regulators Give Initial OK To DFS ProductState Gaming Control Board Recommends License For US Fantasy |
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The Nevada Gaming Control Board has given preliminary approval to the return of daily fantasy sports in the Silver State. In October, state officials said the games offered by the major DFS companies were illegal under current Nevada law because they didn’t have a sports betting license.
According to a report from the Las Vegas Review-Journal, regulators on Wednesday signed off on a plan from Las Vegas businessman Vic Salerno, who is eyeing an August launch date for his product, which would be the first of its kind to be offered through a Nevada casino.
Gamblers could bet on fantasy sports, i.e. wager on the performances of individual players, just like how one bets on horse races, according to the report. Salerno’s company is US Fantasy.
The Nevada Gaming Commission is now tasked with deciding to award US Fantasy with the off-track, pari-mutuel sports system operator’s license.
Nevada’s sports betting handle is expected to hit $5 billion in 2016.
The growing popularity of sports betting in America, in addition to the booming fantasy sports industry, has caused lawmakers on Capitol Hill to take another look at federal law pertaining to wagering on the outcome of athletic contests.
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