- Fifth Street Gaming CEO Seth Schorr has spoken at an NGCB workshop, arguing the case for regulated esports betting in Nevada
- Nevada regulators seem to be on board with the idea as they are inching closer to creating an esports technical advisory committee
- Schorr is confident that digital esports are even safer in terms of integrity than real-world sports
Fifth Street Gaming CEO Seth Schorr has spoken to Nevada gaming regulators explaining why esports gambling should be adopted sooner rather than later.
NGCB Discusses Esports Regulation in Nevada
The Nevada Gaming Control Board (NBCB) held a meeting during which it discussed the Silver State’s intentions of regulating esports betting and what it could mean for the already established sports gambling industry in the state.
During a special workshop hosted by NGCB, the board discussed the introduction of an esports technical advisory committee, which will help the state to develop its competitive video gaming industry, with a focus on esports gambling.
The move coincides with Senate Bill 165 that was passed by the legislature earlier this year, and it seeks to expand on the existing sports gambling framework. Presently, any entity that operates a sports gambling product in the state has to apply for a separate license if they want to offer esports gambling products as well.
Experts and Regulators Weigh in on NV Esports Future
Among the participants at the workshop was Fifth Street Gaming CEO Seth Schorr, who is also chairman at Downtown Grand Hotel & Casino in Las Vegas. Schorr is both an iGaming and esports veteran who is keeping upbeat about the adoption of competitive video gaming.
Downtown Grand Hotel & Casino has already hosted various esports tournaments under Schorr’s aegis, and the executive seems keen on continuing to develop the sector in the United States and Nevada.
“I think incorporating esports wagering in Nevada is critically important for our industry to keep. We see other states in other jurisdictions take this approach. We have an opportunity to not only stay relevant but do it in the right way of how we know to do things here in Nevada,” Schorr said, commenting on one possible way to boost the esports betting ecosystem.
According to Schorr, Nevada has been looking to find out a way to embrace esports in the past six or seven years. Yet, the time to act was now, Schorr continued, and he argued that operators should be allowed to embrace a path to accept esports wagers.
Regulators Fairly Positive about Upcoming Changes
The Gaming Control Board seems fairly confident in the potential of esports, which is an important step forward. Without regulator pushback in the way, the Silver State can see regulated esports betting sooner rather than later.
Dr. Brittnie Watkins of the NGCB has expressed optimism about the adoption of a new betting product. She also helped create the gaming law thesis on esports, which will essentially lead to the creation of a regulated esports betting network.
Of course, not all members were in agreement. NGCB chairman J. Brin Gibson questioned the integrity of esports, but Schorr assured him that streaming platforms such as YouTube and Twitch have millions of esports fans scrutinizing each game.
Esports Is Safer Than Sports
Esports is known for players and fans immediately suspecting when something is awry with social media and discussion forums such as Reddit repeatedly having proven effective ways of tackling esports fraud.
For this reason, Schorr argued, maintaining integrity in a digital game should be far easier than in any sports event, for example. “The Overwatch League is something we should be completely comfortable betting on each game and not just the winner of the league,” he continued listing possible titles that Nevada esports fans could soon be able to bet on.
He noted that the pandemic had had a beneficial impact on how people interacted with esports, and there has been a surge of interest in the vertical.