Nevada authorities greenlight Boomer's Sportsbook prior to its August 1st debut
The Nevada Gaming Commission has unanimously approved the licensing of Boomer's Sportsbook, marking a significant addition to the state's sports betting landscape. The mobile app of Boomer's Sportsbook will allow bettors to access it statewide, making it a convenient option for sports enthusiasts across Nevada.
Joe Asher, a Gambling Hall of Famer, is heading Boomer's Sportsbook. Asher, known for his leadership in the sports betting industry, expressed his views on various aspects of the industry. He believes that the in-person signup requirement for mobile sports betting accounts protects casino investments and is crucial for the existence of Boomer's Sportsbook.
Boomer's Sportsbook will be the only independent operator in Nevada, setting it apart from other sportsbooks in the state. Asher also stated that the previous requirement for racebooks to get results from a licensed disseminator created an artificially high cost structure in Nevada. With advancements in technology, it is now possible to get race results on TV or the Internet, he noted.
Commission members praised Asher as a leader in the sports betting industry. Asher opposes unregulated gambling and believes that any form of unregulated gambling is against the public interest. He supports gambling being regulated at the state level.
Boomer's Sportsbook is expected to launch at The Commercial in Elko on August 1. It will also open at Ellis Island off the Strip and Casino Valle Verde in Henderson.
Meanwhile, the rise of prediction markets in sports betting, exemplified by platforms like Kalshi, is creating a new paradigm in the industry. These markets allow users to trade contracts on the outcomes of sports events, providing a form of betting that is federally regulated as futures products rather than gambling. This development contradicts the long-standing policy of exclusive state regulation of sports betting, as argued by Joe Asher.
Asher expressed opposition to prediction markets that are drawing their legality from the Commodity Futures Trading Commission. He believes that these markets, if left unregulated at the state level, could bypass state-by-state licensing and regulatory restrictions, challenging the traditional model of sports betting regulation.
Sources: [1] Prediction Markets in Sports Betting: A New Paradigm [2] The Rise of Prediction Markets in Sports Betting [3] Federal Regulation of Prediction Markets in Sports Betting
- Joe Asher, who heads Boomer's Sportsbook, is not in favor of the rising prediction markets in sports betting, like Kalshi, as they could potentially bypass state-by-state licensing and regulatory restrictions, contradicting the traditional model of sports betting regulation.
- While Boomer's Sportsbook, led by gaming industry veteran Joe Asher, focuses on traditional casino-games and sports-betting, the emergence of platforms like Kalshi represents a new paradigm in the sports betting industry, offering a form of betting on the outcomes of sports events that is federally regulated as futures products rather than gambling.
