Nevada Race Wagering
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.
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