Nevada Considers Streamlining the Cancellation of Past-Posted Wagers
Nevada challenges the issue of past-posted wagers—bets placed after a sporting event has begun or concluded, giving bettors an unfair advantage.
Proposal to Simplify Cancellation of Erroneous Bets
A proposal currently under consideration in Nevada aims to make it easier for sportsbooks to cancel past-posted wagers without needing approval from the state’s gambling regulator, the Nevada Gaming Control Board (NGCB).
The proposal, initially discussed in a July meeting of the NGCB, was given further consideration and has now been recommended for approval.
If enacted, this change would allow betting operators to cancel these wagers at their discretion, streamlining the process and reducing the regulatory burden on the NGCB.
The Nevada Gaming Commission is expected to discuss the proposal in its upcoming meeting on August 22, with potential implementation just ahead of the football season.
Balancing Fairness and Regulatory Efficiency
The NGCB’s chair, Kirk Hendrick, has highlighted the importance of ensuring fairness for both bettors and licensed sportsbooks. Hendrick noted that while mistakes are inevitable in the digital era, it’s crucial that sportsbooks have the ability to correct these errors promptly.
“If a patron were knowingly or unknowingly making a past post, they would have a relationship with that operator where the book would be able to say, ‘Maybe I made a mistake here,’” said Hendrick.
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