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Nevada Tells Licensees That Sports Event Contracts Are Wagers

Lou Monaco

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Publish Date: Oct 15, 2025

Fact checked by: Sara Jane Gamelli

Key Points

NGCB issues two-page memo on sports event contracts to licensees
"Do Not Offer" in state or with another entity that offers out-of-state
Arizona, Michigan, Ohio, and Pennsylvania have also issued warnings in the past

The Silver State has become the fifth state to issue a warning against sports event contracts.

Nevada Gaming Control Board (NGCB) Chairman Mike Dreitzer issued a two-page memo to all licensees and interested persons late Wednesday that they are aware that licensees or affiliates have expressed interest in offering so-called “sports event contracts,” either in Nevada or other states.

Las Vegas Casinos

In other words, sports event contracts are wagers - so don't do it.

The memo

The NGCB issued the following warning:

The Board considers offering sports event contracts, or certain other events contracts, as constituting wagering activity under NRS 463.0193 and 463.01962. Wagering occurs whether the contract is listed on an exchange regulated by the Commodity Futures Trading Commission (CFTC) or elsewhere.

Examples of event contracts that the Board specifically considers to be wagering subject to its jurisdiction include event contracts based on the outcome or partial outcome of an in the statey sporting or athletic event, or other selected events such as the World Series of Poker, the Oscars, Esports, and political elections (“Sports and Other Event Contracts”). Offerings for Sports and Other Events Contracts may be conducted in Nevada only if the offering entity possesses a nonrestricted gaming license with sports pool approval in Nevada and meets the other requirements for sports wagering including, without limitation, wagering accounts and sports book systems.

Should a licensee in the state offer these or decides to partner with another entity that offers such contracts, the board will consider these developments as it evaluates the suitability of the entity to maintain a Nevada gaming license under NRS 463.170.

If the licensee offers contracts in another state without complying with that state's regulations and restrictions, the licensee may be subject to discipline under the state's Gaming Control Act (NRS 463.720 and/or NGC Regulation 5.011). Engaging in unlawful sports wagering in another state or entering into a business relationship with another entity offering unlawful sports wagering in another state may call into question the good character and integrity of the licensee (NRS 463.170(2)(a)).

Other states

Arizona, Michigan, Ohio, and Pennsylvania are the other four states whose regulators have issued formal warnings to their licensed sportsbooks and operators about the risks of offering sports event contracts, such as potential revoking of their license for violating state gambling laws.

For example, Arizona's Department of Gaming (ADG) warned operators against such offerings, while Michigan, Ohio, and Pennsylvania's regulators followed with similar guidelines emphasizing compliance and enforcement.

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