Gaming Board seeks to close loopholes in laws on sports books

But the board is recommending that all sports books file reports with the agency of any noncash, nonpari-mutuel wagers that exceed $10,000.

The move is part of a yearlong effort to close loopholes in the state's sports and race book regulations.

The prohibition against gaming chip wagers were dropped in the face of heavy opposition from the Nevada Resort Association.

State regulators contend illegal messenger bettors who place wagers for bookies currently use gaming chips to avoid state and federal laws that require them to file paperwork when they place cash wagers that exceed the reporting threshhold of $10,000.

The illegal bettors use the chip method because they don't want federal or state officials to know their identity.

Nevada Resort Association general counsel Bob Faiss said his organization supports the proposed reporting change for chip wagers.

archive