Account wagering

CharlieMaxwell · Aug 18, 2004

An interesting twist to Las Vegas race and sports book operations could be in the works.

The state of Nevada is working to finalize the framework of regulation regarding what is called “account wagering”, which will allow books to accept race (not sports) wagers from bettors located outside of Nevada.

Read the rest of Wild Bill's latest article by going to the RX home page at www.therx.com

Charlie

Dante · Aug 18, 2004

good read wild bill

man could this be the small start for regulation??? I do not know but I feel the dam filling maybe it will break in a year or two!

oldmantime · Aug 18, 2004

Good Read--Bill.

I'm a regular horseplayer online at YouBet. If Nevad offered online horse wagering--I'd sign up in a "New York minute". But I think it will Be CRITICAL (not just a good idea) for the casino to offer at least an Audio feed on their website of the race. (The video is only so-so at best for me anyway--but the sound is nevessary!!!)

Dweeb · Aug 20, 2004

I certainly hope that this will take off -- as Wild Bill suggests. The horse race industry has been sliding down a slippery slope -- with no bottom in sight. Why? Primarily because the entire industry has not been especially innovative and they squeeze too much juice out of their players.

In Las Vegas, new players (young people primarily) are gravitating to the sports side. Very few are interested in horse racing.

I'll keep my fingers crossed that this will provide a much needed boost to Nevada Race & Sports Books. More and more, what I have been seeing, is that upper casino management views the R & S book as merely an accomodation to customers (almost like a necessary evil) -- and not as a profit center that can stand on its own.

Thank You

TheGeneral+ · Aug 21, 2004

Thanks for the read Bill

oldmantime · Aug 21, 2004

Ig Vegas goes through with this it will be a BIG Plus for the internet player. Plus--they will put a SERIOUS squeeze on some the lesser sites now. And--as long as it's horse and parimutual--they could offer horse matchups on a parimutul scale. I'm am full of high hopes for this to go through. Vegas would prosper from it and no doubt players would LOVE it!

WildBill · Aug 22, 2004

OMT,

They will not allow for internet wagering as of now. The NGCB is still not comfortable with its accuracy at identifying who and where the betting is taking place. The bets will have to be done through telephone or "closed-loop", which is essentially what they have now. They will essentially be trusting phone-line connections to be done with trackable call locations. Chances are if you have caller ID block you won't get to make bets on this system. The authorities in this state go beyond paranoia, but that is their thing as the world knows.

I could see many issues coming out of this, but for now I will remain constructive and hope it stirs some stuff up. Will it be the first step towards regulated sports betting? I put the chances of that very low, because it takes years of discussion and argument just to agree to get this one simple thing done, something that is legal in most of the country already. The WTO case with Antigua has better chance of changing something fundamentally, but I don't cross my fingers over that one either. I am more focused on the internal stuff, will it change the way casino managers look at the operation. I just don't see it changing much more than that.