Nevada Regulator Says Online Poker Credit Possible in the Future

One of the notable rules in Nevada’s online poker regulations is that operators may not extend credit to their players. This is a significant departure from the rules used in Nevada brick-and-mortar casinos, where casino credit is a common practice.

But according to at least one member of the Nevada Gaming Control Board, this restriction may not be permanent, and players could someday be able to take funds on credit as they would on the Las Vegas Strip.

“My own individual take would be that I don’t think [the restriction] directly stems from any past problems regarding credit,” Gaming Control Board member A.G. Burnett told CardPlayer. “We were taking a conservative approach on the issues, and assuming we start going forward with intrastate and someday maybe interstate, I think we always reserve the right to amend the regulations.”

Burnett was also reported to say that regulators took a very conservative approach to approving online poker, and the current state of regulations reflects that. In contrast, the issues with several off-shore poker sites had little to do with how Nevada structured their online poker rules.

That said, recent developments in the online poker world have certainly shown the dangers of allowing online poker operators to extend credit to players without any regulations. Earlier in February, the poker world became aware that many prominent professional poker players had borrowed money from Full Tilt Poker that was never repaid. That money, which totaled $18 million, has been a potential roadblock in the proposed purchase of the site by Groupe Bernard Tapie.

Extending credit has never been risk free for brick-and-mortar casinos, either. CardPlayer reported that casinos lost approximately $133 million in unpaid player debt during the fiscal year 2011. However, given the number of high rollers who use casino credit rather than carry cash, the practice is still profitable for the casinos.