Memorandum of Understanding Signed by NGCB and ESIC
The Esport Integrity Coalition and the Nevada Gaming Control Board have signed a memorandum of Understanding to share information about wagering.
Esports is a blossoming industry in the United States as players take part in placing wagers on their favorite video games via tournament or other competitive gaming alternatives. In Las Vegas and other major cities, multiplayer video game tournaments are taking place in record numbers which has led to wagers being placed and certain authoritative groups wanting to work together to ensure a safe betting environment. Just recently, the Esport Integrity Coalition signed a Memorandum of Understanding with the Nevada Gaming Control Board so that wagering information can be shared among the two groups to ensure a quality gaming environment.
Memorandum of Understanding
Now that the MOU has been signed, the two organizations will have the ability to share information in regards to suspicious wagering, betting fraud, match manipulation and more in the industry of Esports. The ability to share information in real time exchange will help to prevent corruption in the industry and will enhance the ESIC activities along with assisting the groups other partners around the globe as they continue to fight betting fraud that can take place in esports.
Ian Smith, the Commissioner of Esports Integrity, commented on the signing of the MOU by stating that the group is delighted to have the Nevada Board agree to work with them as they begin a journey in regulating wagering for esports. The Gaming Control Board of Nevada is considered a gold standard in regards to sports betting regulations in the United States and Smith stated that it has already been a pleasure working with the board in the past. Smith feels that adding the information that can be provided by the Gaming Control Board, along with the data and info that can be provided by other partners, the ESIC will be able to strengthen their efforts considerably.
AG Burnett, the Chairman of the Nevada Gaming Control Board, commented on the signing of the MOU as well, stating that esports wagering is growing in Nevada and it is important for the Gaming Control Board to work with the ESIC, an integrity-focused group, to help regulate the industry. The signing of the MOU will allow for information to be easily exchanged and data shared to help reach mutual goals of ensure that esports wagering is done safely with integrity in place. Burnett also stated that focus needs to be placed on removing the chance of issues taking place in regards to esports betting.
Now that the two groups are working together, the Nevada Gaming Control Board will be meeting with the panel of Betting Partners within the ESIC as well as regulators to exchange information when alerted of suspicious betting as well as other information that occurs when relevant to match manipulation and betting fraud in the esports industry.
The panel of regulators and operators involved with the ESIC continues to grow so there are real time decisions made in regards to betting events. Decisions can quickly be made to void bets, close markets, start and investigation or work with tournament organizers, players or teams in order to determine if fraudulent activity has taken place.
With any betting industry, measures are taken to ensure that integrity remains and no issues arise that can be harmful to consumers. As esports begins to grow in popularity in Nevada, the Gaming Control Board as well as the ESIC will stay on top of any developments and ensure the industry is operating in a fair and secure manner.