Nevada Removes Cash Based Wagering Restrictions
June 26th 2020
Las Vegas – Nevada
The Nevada Gaming Commission has removed the restrictions that only allow wagering deposits to be done with cash. Many in the industry see this as a first step to allowing fully mobile wagering platforms. Currently, a person has to register in person to open a sports betting account. And they have to deposit cash at a machine on location.
The restrictions that were in place were defended in the name of anti-corruption but in reality, Nevada didn’t want to interfere with Casino/Sportsbook foot traffic. This latest move may not be the most popular with the owners/managers of some of those brick and mortar shops but the evolution to mobile based wagering is inevitable.
The state is concerned about losing jobs at the betting locations and one estimate states that as many as 10,000 people could lose their jobs as a result.
Many of the large corporations that own the brick and mortar locations are getting into the mobile betting business as well. MGM for instance owns more than a dozen casinos/sportsbooks on the strip and now has the mobile betting platform BetMGM.