Crypto.com to stop offering sports events contracts in Nevada after losing in federal court
🔍 Key Points Explained
- Only Nevada-licensed entities can offer sports/event contracts
- To legally conduct betting on sports or other events in Nevada, an operator must hold a non-restricted gaming license with sports pool approval.
- This is the highest tier of gaming license and applies to major casinos and sportsbooks (e.g., Caesars, BDG Game, Wynn).
- “Sports and other event contracts” refers broadly to wagers on not just sports but other occurrences — such as awards shows, elections, or even esports — which fall under event wagering.
- Compliance with all Nevada regulations
- Licensed operators must also comply with Nevada’s technical and operational rules, including:
- Wagering accounts (customer identification, anti-money-laundering protocols).
- Sportsbook systems (approved hardware/software platforms with reporting and auditing capabilities).
- These systems must be tested and approved by the state.
- Licensed operators must also comply with Nevada’s technical and operational rules, including:
- Partnerships are closely scrutinized
- If a Nevada licensee partners with another entity to offer these betting products — whether in Nevada or elsewhere — the Gaming Control Board will review that partnership for regulatory compliance.
- Essentially, you can’t “lend” your brand or infrastructure to an unlicensed or improperly licensed partner without risk.
- Violations in other states or tribal jurisdictions matter
- Nevada regulators will also evaluate a licensee’s out-of-state conduct.
- If a Nevada-licensed operator:
- Offers sports/event contracts in another state without that state’s permission,
- Partners with an unlicensed entity, or
- Violates tribal compacts (agreements governing gaming on tribal lands),
→ the operator can face disciplinary action under the Nevada Gaming Control Act.