The state of Nevada is constantly looking for new ways to expand its gambling industry. Lately, officials have taken a closer look at the rapidly-growing Esports betting fan base that exists in the state. One group is now pushing hard to expand Nevada’s Esports betting options this year.
2022 is already shaping up to be a very exciting year for Nevada. Now is a great time to talk about some of the ways that Esports betting could become more readily available here.
Let’s get into it!
Committee Aims to Expand Nevada’s Esports Betting Options
Nevada has been at the forefront of gambling expansion since the 1950s. This state remains the gambling capital of the world, home to some of the best casinos operating today. The majority of these world-class casinos in Las Vegas sit on the Strip.
Esports has grown consistently more popular over the last few years. Nevada has turned into somewhat of an Esports hub in recent years, too. Various state officials recognize this fact and are hearing more calls for legal and regulated Esports gambling platforms to become available in the state.
This week, an advisory committee called the Esports Technical Advisory Committee met to discuss the possibility of expanding Nevada’s Esports betting options. This group wants to better understand the pros and cons of allowing more Esports wagering options in the state. Committee Chairman Paul Hamilton spoke about this situation to the media and claims he wants to ensure that those interested in betting on Esports are protected when they do so.
“I think that’s going to take a little while, but I think the meetings probably start to evolve into commentary and discussion among the board on how do we move forward,” Hamilton said. “Do we agree with what we’re hearing and, if so, what does that actually mean? The ultimate goal is to get esports regulated and the ability to gamble on it safely… We should be at the top and doing it right and do things that make everyone proud. Most importantly, it’s for the consumer to feel safe and also for the facility (casino) to feel safe.”
There is no doubt that Esports betting is still in its infancy. Fortunately, state officials in Nevada are already looking at ways to better regulate this industry. Stay tuned for updates on the state’s growing acceptance of Esports gambling as the year goes on.
Nevada’s Latest Sports Betting Handle Broke a New Record
Nevada was, for many years, the sports betting capital of the United States. Prior to 2018, it was the only state in the country legally able to provide sports betting options. That is no longer the case, yet Nevada continues to post very impressive revenue figures from its regulated sportsbooks every month.
This past January proved to be yet another record-breaking month for the state’s sports betting industry. For the fourth month in a row, Nevada’s sports betting handle surpassed $1 billion. Just over $1.1 billion was wagered on sports online and in-person in this state.
These numbers represent a 9.3% handle increase when compared to December of 2021. They also represent a massive 71.6% increase compared to January of last year. Over 70% of all the sports wagers placed in this state were made online.
Nevada did not see the largest monthly sports betting handle in the country, though. That title belongs to New York, which saw $1.69 billion in total handle. That is an impressive achievement when considering the sportsbooks in the state were not even operating for an entire month.
There is no doubt that Nevada remains the country’s casino hub. Many companies are now working to break into this state. Now is a great time to take a look at some of the latest shake-ups with the state’s casino industry.
Casino Companies in Las Vegas Anticipate Revenue Surges
Las Vegas is home to the world’s most impressive casinos. 2021 proved to be a fantastic year for the casino industry in this city and others in Nevada. As a result, many companies have worked to break into the Las Vegas casino market in 2022.
Hard Rock International has finally secured a casino on the Las Vegas Strip. This major gaming operator agreed to purchase The Mirage from MGM Resorts for just over $1 billion. This marks the company’s first gambling property on the Strip.
Apollo Global Management has broken into Las Vegas, too. This company recently finalized its purchase of The Venetian from Las Vegas Sands. This is one of the larger casino sales to take place in Las Vegas in the past decade, yet Apollo does not plan to change the operations within The Venetian.
Most gaming analysts are expecting very impressive revenue figures in Las Vegas this year. Of course, events such as rising interest rates and a growing conflict in Europe have the potential to cause issues. We will provide more updates on how the gaming operators here are faring as the year continues.
Are you excited to hear that officials want to expand Nevada’s Esports betting options? Will this be the next big thing in the state’s gambling industry? Let us know in the comments section below.