NGC Gives Approval for New Fantasy Sports Proposal - KTVN Channel 2 - Reno Tahoe Sparks News, Weather, Video

NGC Gives Approval for New Fantasy Sports Proposal

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Fantasy sports is one step closer to casino floors after a Nevada Gaming Commission decision Thursday.

NGC Chairman Tony Alamo confirmed Friday that they have given preliminary approval for a developer to make the first fantasy sports program to be approved for use in Nevada.

The proposal was put forth by a big name in Nevada gaming-- Vic Salerno, who was recently inducted into the Gaming Hall of Fame. His idea could put fantasy sports betting right into local sports books.

"He's foreseeing walking into sports books and seeing it up on the board," Alamo said. "He sees that, you walk into any sports book, and you could bet on an NBA team, or you can bet on his product."
 
Alamo said the final product could work much like current industry leaders in fantasy sports: FanDuel and DraftKings. The biggest difference, though, is this would be the first of its kind to be regulated by any kind of control board. And that's the direction the commission wants all fantasy sports companies to go.

Alamo said current sites are engaging in gaming, although they argue that's not the case.

But the lack of oversight or consumer protections led to them being banned in many states, including Nevada.

"As a consumer," Alamo said, "I would never want to participate in any organization that takes my money and is not regulated by some governing body."

The new fantasy sports proposal is still in the development phase, and still has to pass a few hurdles. Alamo said he doesn't know of the timeline yet for how soon it would be ready for casino floors.

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