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Approval granted by Nevada regulators for Boomer's Sportsbook prior to its August 1st debut

Nevada's latest sportsbook, led by Gambling Hall of Fame member Joe Asher, receives official approval on Thursday. Asher emphasizes the necessity of state regulation and critiques the growing trend of prediction markets nationwide. Boomer's Sportsbook is set to debut soon.

Sports regulators in Nevada give green light to Boomer's Sportsbook, set for an August 1 debut
Sports regulators in Nevada give green light to Boomer's Sportsbook, set for an August 1 debut

Approval granted by Nevada regulators for Boomer's Sportsbook prior to its August 1st debut

Leading Sports Betting Executive Joe Asher Opposes Federal Regulation of Prediction Markets

Joe Asher, a renowned figure in the sports betting industry and Gambling Hall of Famer, has expressed his opposition to prediction markets in sports betting that are regulated by the Commodity Futures Trading Commission (CFTC). Asher, the head of Boomer's Sportsbook, believes that these markets, which operate under federal oversight, amount to unregulated gambling and pose a threat to the long-standing state-based regulatory framework for gambling in the U.S.

Asher insists that all forms of gambling should be regulated at the state level to protect the public interest and prevent harms associated with unregulated betting. He sees unregulated or federally overseen sports gambling as inconsistent with the country’s legal gambling policy, emphasizing that such markets undermine states' authority and Nevada’s regulatory approach, including its in-person registration requirement for mobile betting.

The Nevada Gaming Commission, which recently approved Boomer's Sportsbook, praised Asher before granting the licence by a unanimous vote. Boomer's Sportsbook, the only independent operator in Nevada, will launch at The Commercial in Elko on August 1 and will also be available at Ellis Island and Casino Valle Verde in the following days.

Asher's views on the federal regulation of prediction markets in sports betting contrast with the Nevada Gaming Commission’s traditional framework that prioritizes state regulation and control over gambling activities. This stance is rooted in the belief that state-level regulation provides a more effective means of protecting the public interest and ensuring the integrity of gambling operations.

Nevada previously required racebooks to get their results from a licensed disseminator, a law that dated back to when casinos started offering wagers on races without video transmission. However, Asher believes that this requirement created an artificially high cost structure in Nevada. With the advancement of technology, he believes that it is no longer necessary to get race results from a licensed disseminator.

Asher also supports the in-person sign-up requirement for mobile accounts in sportsbooks. He believes that this requirement protects casino investments and encourages additional spending. Boettors will be able to access Boomer's Sportsbook statewide via a mobile app, making sports betting more accessible and convenient.

Despite his opposition to unregulated gambling, Asher believes that the change in state law regarding race horse betting will make hosting race horse betting more profitable. Boomer's Sportsbook will be at the forefront of this change, offering a wide range of betting options to sports enthusiasts across Nevada.

As a leader in the sports betting industry with an impeccable reputation, Asher's views on the regulation of sports betting are highly influential. His stance on the federal regulation of prediction markets in sports betting is likely to spark further debate and discussion within the industry.

[1] Supreme Court PASPA ruling [2] CFTC's regulatory approach to prediction markets [3] Nevada Gaming Commission's approval of Boomer's Sportsbook [4] Boomer's Sportsbook launch

  1. Joe Asher, a sports betting industry veteran and the head of Boomer's Sportsbook, believes that prediction markets in sports betting should be regulated at the state level, similar to casino-games in Las-Vegas, to maintain public interest and avoid inconsistencies with the existing state-based regulatory framework, such as the Nevada Gaming Commission's approach.
  2. Asher's opposition to the CFTC's regulatory approach to prediction markets in sports betting is based on his belief that these markets amount to unregulated gambling and could undermine the states' authority, particularly in Nevada, where market leaders like Boomer's Sportsbook operate alongside traditional casino-and-gambling venues, like The Commercial and Ellis Island Casinos.

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