Las Vegas Sun

March 28, 2024

Senate bill aims to open sports betting to out-of-state gamblers

CARSON CITY — A bill that could pour millions of dollars more into Nevada’s horse racing and sports betting parlors received a favorable reception in a Senate committee Tuesday.

SB-443 would allow for the creation of companies that connect out-of-state bettors with Nevada managers who could make wagers for them.

It would be up to the manager to decide which horse or team to bet on.

It was described as a mutual fund where investors place their money and then a decision is made on where to place the money.

The three attorneys presenting the measure said there were no studies to show it would produce more wagers. But it would provide out-of-state residents a legitimate way to place bets.

Las Vegas lawyers Bruce A. Leslie, Quinton Singleton, vice president of CG Technology, and former Gaming Control Board member Mark Clayton presented the details of the bill to the Senate Judiciary Committee.

Committee members asked some question but the attorneys said this proposal would be regulated by the state Gaming Control Board.

Under the bill people would be able to pool their money into a business, which would place the wagers. The individuals would submit their names, addresses, social security numbers and other background information to the Nevada bookmaker who wanted the business.

The control board would have access to this information and would be able to take disciplinary action if any infractions occurred. The money invested would have to be housed in a Nevada financial institution.

A person who submits false information to the company could be charged with perjury, a felony.

In the last 12 months, Nevada gambling halls won $51.9 million on horse racing and $217.3 million on sport pools.

The committee will vote on the bill later.

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