Strange new law signed in Nevada regarding Sports Betting...

Question

Don&#x27;t really know what made this happen, but here you go.....&#xD;&#xA;https://www.slate.com/blogs/the_slatest/2015/06/04/nevada_sports_betting_investment_funds_out_of_state_entity_wagering_allowed.html

vanzack · Answer

Don&#x27;t really know what made this happen, but here you go.....&#xD;&#xA;https://www.slate.com/blogs/the_slatest/2015/06/04/nevada_sports_betting_investment_funds_out_of_state_entity_wagering_allowed.html

vanzack · Answer

Nevada&#x27;s governor signed a bill Tuesday legalizing "entity wagering" funds that will be allowed to bet on sports with out-of-state investors&#x27; money&#x2014;but not allowed to let those investors dictate which bets to place. From ESPN:&#xD;&#xA;Senate Bill 443 allows Nevada business entities to apply for registration for the purpose of betting on sports and racing at the state&#x27;s sportsbooks. Essentially it legalizes sports betting investment funds, similar to traditional mutual funds, that are registered and managed in Nevada but which could include participants from outside the state.&#xD;&#xA;Nevada sportsbooks will be free to refuse these funds&#x27; bets, just as they&#x27;re free to turn down bets from individuals&#x2014;and might have an incentive to do so given that the funds will presumably be making large bets based on research more thorough than the average individual who walks in off the street. Sources cited by the Las Vegas Review-Journal speculated nonetheless that the bill could ultimately triple the amount wagered on sports in the state.&#xD;&#xA;Per ESPN reporter David Payne Purdum, the bill&#x27;s authors believe that residents of states that do not allow sports betting will not face any legal obstacles to investing in Nevada sports funds; whether out-of-state law-enforcement officials agree with that interpretation remains to be seen.

Kurshka · Answer

Will be interesting how many business entities they allow and the selection process. Sounds no different than paying for a tout.

TRAIN69 · Answer

Ya think I should email Vanguard and see when they&#x27;ll be adding the "Exotic Parlay Fund" to their mix?

TheGoldenGoose · Answer

It allows Offshores to offset some of Vegas Top-Heavy Action if Vegas so decided.

KennyWoo · Answer

Steve Stevens here baby we&#x27;ll be rolling out our new Quadruple Platinum Wagering EquityBuilder Fund next week - absolute blowout winner.What a great idea, giving touts the opportunity to basically run their own mutual funds with other people&#x27;s money.  I wonder if there is a special "Buy the Hook" fund that Stevens will be pimping.

Kurshka · Answer

Exactly Woo. I doubt my financial adviser is going to load me up on this even though he knows I like high risk investments.

thorpe · Answer

The difference is that no one is regulating the tout, but funds are highly regulated.  A fund has to show the rate of return and the amount that is skimmed off the top by the fund manager.  A fund won&#x27;t be able to profit by giving half of their customers team A and the other half team B...If you don&#x27;t want to do the research or bet illegally and don&#x27;t live in Vegas, and you want action on a game, this could be a good thing.  You probably will get an email or text with your action for the night.  If you invest in the fund, but just a quarterly statement, then that would be kind of lame.  What is the point of betting without action?

TheDrizzle77 · Answer

I see your vantage point, Thorpe, saying that the average investor that doesn't want to put in the time to research plays would enjoy this strategy.

But I have to imagine most people that this would apply too would say that, at the end of the day I'm using a glorified, taxed tout, when I could be dictating my own action nightly at my own pace in my personal offshore account.

And I like how it says the bill's authors "do not believe that residents of states that do not allow sports betting will not face any legal obstacles." Oh bother. I could just see Pennsylvania putting one in the proverbial potato sack and beating all of their just desserts out of you.

Maybe the selection process will be better than I expect. But even so, knowing the easy access, mostly safe offshore forum is out there--with a ton of referred books to choose from--I just can't imagine this jumping off.

vegasrebel417 · Answer

Still waiting on reduced juice and team totals on all games. Won&#x27;t hold my breath when Coast, Stations, whoever else you want to throw in the mix juices everything up and is scared to take a bet.

thorpe · Answer

They are on fairly safe constutional ground here.  Corporations operate under the state law where they are chartered.  The analogy would be if you owned stock in a liquor company while living in Utah where it is illegal to consume or sell.

hudsoncfc · Answer

This is a positive development. Instead of playing in the wall street casinos where the prices are fixed by whimsy or if a third world despot takes a few guys with machetes into the oil fields. We can invest in the desert where at least we can have some fun.

I think the returns from successful sports investment corporations will dwarf the S&P and the NASDAQ in coming years.

I think we should let Billy Walters manage the social security trust fund. We might all be able to retire on our own golf course.

Strange new law signed in Nevada regarding Sports Betting...

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