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Glossary

Gambling
Gambling involves a collective game of chance for a wager or stake; whoever wins the game wins the wager or stake.

Pari-Mutuel Betting
Pari-mutuel betting is mutual betting; individual bets are placed into a pool, taxes and the house share are subtracted, and payoff odds are calculated.  Examples of pari-mutuel betting are horse racing, greyhound racing and sporting events such as boxing, football, basketball and hockey.

Off-Track Betting
Sanctioned betting on horse races in gambling parlors, not at the track, is called “off-track betting.”  Nevada was the only state to permit off-track betting before 1970.  Now, off-track betting is legal elsewhere. 

State Gaming Control Board
The State Gaming Control Board regulates Nevada’s gaming industry, 24 hours a day, 7 days a week.  The Board states its purpose as “to protect the stability of the gaming industry through investigations, licensing, and enforcement of laws and regulations; to ensure the collection of gaming taxes and fees, which are an essential source of state revenue and to maintain public confidence in gaming.”

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