Nevada Makes it possible for Sportbooks To Take Bets On March Madness ‘Most Outstanding Player’ Award

Nevada Enables Sportbooks To Take Bets On March Madness ‘Most Outstanding Player’ Award

Nevada sportsbooks received an help from regulators this week.

The Nevada Gaming Manage Board on March 17 granted approval to supply wagers on the NCAA Men’s Basketball Tournament Most Outstanding Player award.

The approval gives all licensed books the choice to post and accept wagers on the award, with the setting of odds being at the discretion of the book. Guidelines governing these wagers are needed to be produced available to the public.

Acceptance of wagers have to cease prior to the begin of the final game of the tournament.

Any extra wagers “deviating from” the winner of the NCAA Men’s Basketball Tournament Most Outstanding Player award will need a separate application and approval, regulators stated.

Basketball wagering in Nevada has in no way been bigger for the books. In 2021, the state reported $147.8 million in revenue off basketball wagers, an all-time high.

According to a current study from the American Gaming Association, about 17 % of American adults, or 45 million individuals, strategy to gamble on the March Madness tournament.

The AGA estimated that $3.1 billion in total will be wagered on the tournament.