Nevada Wagering Accounts
QUIZ: What is the purpose of gambling regulations in Nevada? a) To make money, b) To make money, c) To make money, d) To make money. Did you get it right? The Gaming Control Board is asking the Legislature to approve one account for all types of gambling, instead of an account for each type. This is for the “convenience” of the customer so he/she can spend money seamlessly and faster. The new universal rules would be based on changes to the law passed in 2015.
The main claim is that it is easier for the patron (especially when drunk), and more profitable for the casino, sport book, or whatever (not mentioned). This will also allow electronic vouchers when the gambler wins. The bottom line is that all gamblers will be farther removed for the sense of money fleeing their hands. In October Nevada casinos experienced a double digit rise in casino revenues. These regulations would attempt to lock in the increases. The October increases were encouraging (to $887.5), but still did not match the September figures of $949 million.
Nevada sport books also saw increases to $42.3 million, up 26% from October a year ago. This was the fifth consecutive year of Fall sports increases, based on the second highest handle in history. This is not the end of increasing the take of casinos. Years ago observers said that the number of players who made money gambling on sports could be counted on the fingers of two hands.
Jasmine Solana, “Nevada mulls allowing wagering accounts for casino betting,” http://calvinayre.com/tag/nevada
, December 7, 2016.