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Brett Abarbanel is named as executive director after nearly a decade with the institute

No wagering breakthroughs are expected when esports betting is allowed more frequently at Nevada sportsbooks about a month from now.

During the height of the COVID-19 pandemic in 2020, the sports wagering world was essentially short-circuited as professional and college sports leagues canceled games. With the notable exceptions of Belarusian soccer and Russian table tennis, actual markets for sporting events were few and far between.

Esports debuted in a traditional online sportsbook back in 2009. Since then, Esports has developed into a billion-dollar industry, thanks to the growth of streamers leading to increased audiences and more sponsorship revenue.

After a rocky 2020, when lockdowns kept casinos closed or operating under restrictions, the gambling industry has recovered, and then some. Commercial gaming revenue – that includes in-person gambling, online gambling and sports betting – set an all time record in March, taking in more than $5.3 billion, according to the American Gaming Association.

The opportunities seem endless. The reality is much more complicated.

Nevada’s Esports Technical Advisory Committee had its first meeting Tuesday, taking its first step toward moving Nevada further into the multimillion-dollar esports industry, debating best practices for its execution in the state.

Technology has been changing the way society operates: from health to entertainment, going through education and even on financial terms, new tools such as artificial intelligence have begun taking over aspects of everyday life.