Faster that a couple of dice hitting the craps table, recently Nevada Governor Brian Sandal signed into law Bill number AB114 which moved through the legal state process quickly and right onto his desk. This intrastate online gaming bill went on record as one of the fastest ever to be pushed through in US legal history.
Once it had passed through the house and Senate, before the stamp of approval could even dry, it was taken directly to Brian Sandal. The Governor was proud to be the one to sign it as soon as it hit his desk and happily commented, “This is an historic day for the great state of Nevada. Today I sign into law the framework that will usher in the next frontier of gaming in Nevada.”
Don’t get too excited, at this point it only applies to online poker, but most in the industry see this as only the gateway game. Now it’s just a matter of time. The real money, just like in the land-based games will come from the online slots revenue, which puts the poker revenue to shame. The new bill AB114 will now enable companies with a Nevada gaming license to offer their products to other states where online gaming is legal, but only if other States create a similar law.
This is the first time a State has done this with online gaming and without the federal government getting involved. With this bill passed, the Nevada politicians believe their State will lead the way in the online gaming industry for the US. It will also allow the State to broaden its market by entering into intrastate agreements and bringing this high tech industry to the forefront of Nevada and enable them to lead the way.
Ever since the Federal Department of Justice further clarified the Wire Act of 1961, stating the law only applies to sports betting, Nevada got the ball rolling for legalizing online poker but only for playing in the State. Now with the new law in place, this means that eventually any State can join in and increase the number of players for any operator with a license.
This really makes it interesting now for other States who legalize online gaming and join the Nevada companies creating potentially huge networks of players. As A.G. Burnett, chairman of the state Gaming Control Board claims, “In effect, Nevada would supply the licensing and regulation that could make online poker accessible everywhere the Internet is in the United States -- a potential market of $4 billion to $10 billion a year. Globally that market could reach $30 billion a year,” Burnett estimated.
Now the million-dollar question will be who will join Nevada and develop an agreement to create compacts and share players. As more States like Delaware and New Jersey develop their own jurisdictions that means they will surely be looking to team up with other States. And when other States see the tax dollars coming in; that will encourage them to act quickly and make friends with Nevada.
The online gaming industry globally has been waiting for this day to happen and it looks like the day is finally here and it’s all happening at lightning speed. Now we just have to wait and see if all this legal intrastate jurisdiction action prompts the Federal Government to act and comes to the tables with a bill of their own, that truly unites all the States onto one big online casino. You an almost hear all those tax dollars hitting the jackpot.