Nevada gambling officials have announced that they will be banning a popular type of gambling action in the state’s casinos. The new rule, which goes into effect on October 1, outlaws the so-called “lay bet.”
In lay betting, players wager against the house rather than against other players. For example, in a game of blackjack, a player might make a lay bet on the number 10 to insure themselves against losing their initial bet if the dealer has blackjack.
Gambling regulators say that the new rule is needed to protect consumers and casinos from unscrupulous players who might try to take advantage of them. They also argue that the rule will help to ensure a fair and level playing field for all casino customers.
Opponents of the ban say that it will drive customers away from Nevada’s casinos and cost the state jobs and revenue. They also claim that there is no evidence that lay betting is any more dangerous than other types of gambling.
All forms of Poker have been banned in the state of Nevada pursuant to Assembly Bill 431, which was signed into law by Governor Brian Sandoval on June 5, 2017.
This bill outlaws live and online poker in the state, making it a misdemeanor offense punishable by up to 6 months in jail and a $1,000 fine. It also prohibits casinos from offering any form of poker, including tournaments.
The bill was sponsored by Assemblyman Jim Marchant and supported by a number of casino operators in the state, who argue that poker is a game of chance that should not be offered alongside more skill-based games like blackjack and craps.
Opponents of the bill argue that poker is a game of skill and should be allowed in Nevada casinos. They also claim that the ban will lead to an increase in illegal gambling activity in the state.
The new law takes effect on October 1, 2017.
A recent study by the Nevada Policy Research Institute shows that the Silver State could add $7.5 billion in annual economic output by repealing its state-run gambling monopoly and allowing private companies to compete. The study’s author, Geoffrey Lawrence, said that “the research indicates that Nevada could enjoy significant economic benefits by repealing its state-run gambling monopoly and allowing private companies to compete.”
The study is based on a 2012 report from theLas Vegas Convention and Visitors Authority that found that gaming industry employees account for nearly one-third of all Clark County jobs. That amounts to some 328,000 jobs in total, with an estimated payroll of more than $11.5 billion. In addition, gaming industry revenues generated an estimated $38.9 billion in economic activity throughout the state in 2012 and supported more than 352,000 jobs.
Lawrence said that “given these impressive numbers, it is clear that the gaming industry is a major driver of Nevada’s economy. But as things stand now, this key sector is hampered by government intervention in the form of a state-run monopoly.” He continued, “repealing this monopoly would allow private companies to operate casinos and other forms of gambling, resulting in increased competition and better jobs and services for Nevadans.”
This is not the first time that NPPRI has called for a repeal of Nevada’s gaming monopoly. In 2013, they released a report which showed that doing so would create nearly 14,000 jobs and bring in over $1 billion in new revenue to the state. A repeal would also allow Las Vegas to recapture its title as the world’s leading tourism destination.
It’s no wonder that Nevada’s gaming industry is struggling when you consider its current restrictions. The state has a limited number of licenses and operators are subject to strict regulations. This creates an uncompetitive environment which hurts businesses and consumers alike. Allowing private companies to compete would change all that. It would create more jobs and spur economic growth throughout the state.
Nevada should look to states like New Jersey, Delaware, Illinois, and Pennsylvania which have thriving gaming industries despite being faced with competition from neighboring states. Each of these states has repealed their gambling monopolies or opened up their markets to allow private competition. As a result, they have seen increased job growth and revenue generation.
It’s time for Nevada to follow their lead and repeal its outdated gaming monopoly. Doing so would inject billions of dollars into the economy and create thousands of new jobs
Casinos in Nevada are drying up as the state’s legal gambling industry rapidly changes. In the past two weeks, blackjack and craps have become illegal in many of the state’s casinos. The change is a result of a new interpretation of the law by the Nevada Gaming Commission.
The commission has determined that games with dice and cards are now considered to be slot machines, which are subject to different regulations. Blackjack and craps are popular among visitors to the state, who account for about 40% of casino revenue.
Governor Brian Sandoval has said that he is “disappointed” by the decision and wants the commission to reconsider its ruling. He also pledged to work with the legislature to address the issue. Some lawmakers have already expressed interest in finding a way to bring back blackjack and craps.
In the meantime, casinos are looking for other ways to attract players. They are offering more penny slots and table games like roulette and poker. The shift is likely to mean lower profits for casino operators and less tax revenue for the state.
Nevada’s state legislators have decided to put an end to all gambling action within the state, much to the chagrin of the gaming industry. The unanimous vote came as a bit of a surprise given that the industry is one of the largest contributors to state coffers.
Industry groups are already mobilizing to try and overturn the decision, but it remains to be seen whether they will be successful. In the meantime, casinos and other gambling establishments will need to find other ways to bring in revenue.
One possibility is that they could turn to tourism, which is still strong in Nevada. Another is that they could focus on developing new forms of entertainment that don’t involve gambling. Whatever route they choose, it’s clear that things are going to be changing in Nevada soon.