UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of

The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):		~~January~~April 1310, 2012
American Wagering, Inc.
(Exact name of registrant as specified in its charter)
Nevada	000-20685		88-0344658
(State or other jurisdiction	(Commission		(IRS Employer
of incorporation)	File Number)		Identification No.)
675 Grier Drive, Las Vegas, Nevada			89119
(Address of principal executive offices)			(Zip Code)
Registrant’s telephone number, including area code:		(702) 735-0101
Not applicable
(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 21.~~03.~~01 ~~Creation~~Entry ofinto a ~~Direct~~Material ~~Financial~~Definitive ~~Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant~~Agreement.

~~Nevada~~On ~~Gaming~~April ~~Commission~~10, ~~Regulation 22~~2012, American Wagering, Inc.~~040~~ and its subsidiaries (collectively, the “~~Regulation 22.040~~Company”) ~~requires~~entered usinto toan ~~maintain~~agreement ~~reserves~~ (~~cash~~the “Agreement”) with Victor Salerno, ~~surety~~the ~~bonds~~Company’s President and Chief Executive Officer, ~~irrevocable~~to ~~standby~~extend ~~letter~~the maturity date of ~~credit, etc~~the Company’s Line of Credit with Mr.) ~~sufficient~~Salerno todated ~~cover~~April ~~any~~21, ~~outstanding~~2008, ~~wagering~~as ~~liability~~amended ~~including~~by ~~unpaid~~the ~~winning~~Change ~~tickets~~of Terms to Line of Credit dated April 21, ~~future~~2010 ~~tickets~~(collectively, ~~and~~the ~~telephone~~“Line ~~account~~of ~~deposits~~Credit”).

OnPursuant ~~January~~to ~~13,~~the ~~2012~~Agreement, the ~~Nevada~~maturity ~~State~~date ~~Gaming~~of ~~Control Board approved our request for~~ the ~~release~~Line of ~~$750,000~~Credit ~~from~~was ~~our~~extended ~~reserve~~from ~~account~~February ~~held~~1, at2012 ~~Nevada~~to ~~State Bank and~~ the ~~release~~earlier of ~~the~~August ~~$250~~1,~~000~~ ~~Nevada~~2012 ~~State~~or ~~Bank~~the ~~certificate~~closing of ~~deposit~~the ~~that~~merger ~~had~~agreement ~~been pledged by Robert~~ and ~~Tracey~~plan ~~Kocienski as part~~ of ~~our~~merger ~~Regulation~~between ~~22.040 reserve. These amounts were replaced by an irrevocable standby letter of credit in~~ the ~~amount~~Company ofand ~~$1.0~~William ~~million~~Hill ~~with~~Holdings ~~Bank of America~~Limited. ~~The~~No ~~aggregate~~other ~~amount~~terms of ~~our Regulation 22.040 reserve continues to be $2.5 million, consisting of~~ the ~~$1.0~~Line ~~million Bank~~ of ~~America~~Credit ~~irrevocable~~were ~~standby letter of credit, our reserve account of $700,000 held at Nevada State Bank, pledged certificate of deposit totaling $200,000, and the previously approved “float” of $600,000~~amended.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	American Wagering, Inc.
	(Registrant)
Date: January 20, 2012
Date: April 13, 2012
	By:	/s/ Victor Salerno
		Victor Salerno
	Its:	Chief Executive Officer and President

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