If the Nevada Gaming Control Board and Las Vegas bookmakers have their way, betting on non-sporting events will soon be coming to casinos around the state.
An article on the website Covers.com, written by Case Keefer, tells the story of how the Nevada Gaming Commission recently amended regulations to allow for wagering on “event betting.” This form of betting would be dependent on the outcome of non-sports activities, such as major award shows, reality television, poker, and bull riding. The Covers.com story states that event betting could be active in Las Vegas within the next year.
“I think it will be good for the state,” Cantor Gaming Race and Sports Book Director Mike Colbert is quoted as saying in the Covers.com article. “I don’t think it’s going to add all that much revenue, but anything that creates more action, I’m in favor of.”
Cantor Gaming, which operates several sports books in Las Vegas, including the M Resort, Hard Rock Hotel and Casino, and Tropicana, was responsible for getting the regulations amended to allow for event betting. What isn’t clear, however, is how casinos in Nevada would implement the new regulations.
The main point of the Covers.com article is that, while event betting wouldn’t be set up immediately, it could be ready for action in time for this year’s World Series of Poker (WSOP) at the Rio. Colbert explained, “There are a million ways we could swing that. All of the poker guys would love it. They bet amongst themselves anyway about who’s going to last longer, who’s going to win a tournament, and who’s going to win the most bracelets. There’s really a market for a variety of different poker wagers.”
While the Las Vegas sports books haven’t yet opened up event betting, the online gaming industry has been active in prop betting for some time. At Bodog, the upcoming Academy Awards is the predominant non-sports related activity receiving action. Bettors can wager on all of the major awards, the total number of Oscars that such films as “The Social Network” and “The King’s Speech” will win, and even on props like the color of Natalie Portman’s dress or whether a rumored couple, Ryan Reynolds and 2010 Best Actress winner Sandra Bullock, will show up together.
While the sites do not accept American action, Betfair and Ladbrokes offer betting on non-sports activities from around the world. Betfair’s offerings include wagering on the Academy Awards, stock markets, and the 2012 Presidential Election in the United States.
At Ladbrokes, bettors can wager on the original British version of “Big Brother” and whether vocalist Susan Boyle’s next album will hit the top of the charts in the U.K. and the U.S. Punters at Ladbrokes even can wager on the upcoming wedding of Prince William and Kate Middleton, including what color Queen Elizabeth II’s hat will be and when the royal couple will have their first child.
What the face of Las Vegas-style event betting would be is unknown at this time. “We need to see what’s feasible and what draws the most attention,” Jimmy Vaccaro, the Director of the Race and Sports Book at Lucky’s, is quoted in the Covers.com article. “As an industry, we don’t know. Once we have an idea, I think we’ll do it like everything else. We’ll cultivate that, tweak that, and go from there.”