Nevada gambling enterprises have welcomed the hearing of Senate Bill 443 which aims to extend sports betting services beyond state borders, by allowing licensed gambling enterprises to network their services through partner entities.
Bill 443 was heard last Tuesday by a Senate Committee, its framework would authorise the formation of outer state business entities where customers would be allowed to place wagers on licensed Nevada based sports betting markets.
Supporters of the bill have stated that it would boost the Nevada economy by opening the market to a wider audience, and would further ensure US consumer protection by allowing out of state customers to place wagers securely with licensed state sports betting enterprises.
At present US federal laws do not allow consumers to place sports wagers outside of Nevada. However these conditions have created a black market for underground bookmaking services offering to take on wagers through agents who place the requested wagers with Nevada sportsbooks. This practice is known as ‘messenger betting’ and is not permitted by Nevada gambling laws.
Bill 443 makers stated that the proponents had been drawn up with the aid of Nevada state gambling regulators and business enterprises.
“We believe that there is a market demand for skilled bettors to utilize the various forms of Nevada’s entities, have individuals invest in the entity and then share the success of the wagering activity,” commented Quinton Singleton, Vice President and Deputy General Counsel for CG Technology.