June 12, 2015
Last week, the Governor of Nevada signed into law a bill that will ostensibly provide out-of-state residents with unprecedented access to Nevada’s sports books. The law allows for the formation and registration of business entities, likened to traditional mutual funds, to place race and sports pool wagers. Notably, the sports gambling law allows investors to join those entities and to share in the profits and losses from wagers placed at licensed Nevada gaming establishments, without any restrictions on the state of residence of the investor.
What are the sports gambling law’s requirements for compliance?