Nevada regulator gives green light to Olympic betting

The Nevada Gaming Control Board has given its approval for the US state to legalise betting on the summer and winter Olympic Games.

The regulatory body unanimously voted in favour of the move, which will allow punters in Nevada to place bets on the Games, the next edition of which will take place in Rio de Janeiro, Brazil, next summer.

Wagers can be placed on Olympic sporting or athletic events sanctioned by the International Olympic Committee global governing body, while the chairman of the Nevada regulator has the authority to remove an event or contest from betting activity.

The legalisation comes after a group of sportsbooks in Nevada last month appealed to the Nevada regulator to legalise Olympic betting activities in the state.

Betting on the Olympics was previously outlawed in Nevada due to its classification as an amateur sport.

However, the group argued that such betting activity is commonplace in many countries around the world and Nevada would benefit from an expanded market.

Meanwhile, the Nevada regulator has also given its approval to the merger between Interactive gaming software and services provider GTECH and gaming products designer and manufacturer International Game Technology (IGT).

GTECH first confirmed in July last year that it had agreed a deal to acquire IGT in a move that will mark one of the largest-ever merges in the history of the gambling industry.

The deal has now moved a step closer after the Gaming Control Board and Nevada Gaming Commission yesterday (Thursday) signed off on the buy-out following three hours of special meetings.

“This appears to be good for both companies and good for the state of Nevada,” Control Board member Shawn Reid said, according to the Las Vegas Review-Journal.

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