Nevada Race Wagering

Nevada allows casinos to conduct pari-mutuel wagering on live races and simulcast races around the world. The only live horse racing in Nevada is conducted at two tracks: Elko County Fair, which offers seven race days a year, and White Pines in Ely, offering two race days each year. There have been unsuccessful attempts to bring horse and greyhound racing to Las Vegas. Jai alai was offered for a number of years at the old MGM Grand in Las Vegas and not as long in Reno. Most simulcasting occurs in casino racebooks, and as such, pari-mutuel revenue is included with casino and card room revenue. Racebook and sportsbook revenues are no longer included with casino and card room revenue for purposes of this publication.

In 1949, bookmakers were allowed to accept bets on horse races and professional sports. They operated independently from the casinos, but had to pay a 10% tax, so they had to charge a high vigorish to remain profitable. In 1974, the tax was lowered to 2%.

In 1915, the Nevada State Racing Commission was created to construct horse racing industry rules and regulations and to inspect racing associations within the state. In 1949, the legislature replaced the commission with a revamped agency of the same name and in 1951 supplanted this second commission, creating in its place the Nevada Racing Commission (NRC). In 1993, the legislature eliminated the NRC, transferring responsibilities for licensing and regulation of horse racing and greyhound racing to the Nevada Gaming Commission (NGC).

In January 2008, the NGC approved Wynn Las Vegas to start accepting phone account wagers on thoroughbred races.

In August 2012, a shutdown of Nevada's racebooks was avoided when the Nevada Off-Track Pari-Mutuel Wagering Committee and the Las Vegas Dissemination Company, Nevada's only licensed systems operator for pari-mutuel wagering, were able to reach an agreement on a new contract that expired 31 July 2012. A temporary extension of the contract had been granted by the NGC in July.