New Nevada Staking Bill SB40 Not Related To Poker

New Nevada Staking Bill SB40 Not Related To PokerThis week, the poker community in Nevada were concerned that a new bill (SB40) designed to target sports betting affiliates also threatened to put a halt to poker tournament staking in Nevada. Players and organizers alike were worried that outlawing the practice would have a destructive effect on tournament poker, especially at the higher buy-in levels, which rely heavily on players selling part of their action so as to limit the effects of variance on their bankrolls.
The key language in SB40 which seemed to include poker staking was a reference to making it against the law to accept third-party bets on ‘future contingent event’, but now the poker community can breathe a sigh of relief after Nevada Gaming Control Board Chairman A.G. Burnett (photo) moved to clarify the issue. Clearing up the ambiguous language of the proposed piece of legislation, Burnett explained to that SB40 was not related to poker, but was solely a sports betting bill.
“The reason for the ‘future contingent event’ is that our sports books don’t always take strictly sports-related bets; we have allowed them to take non sports bets in the past and the possibility exists that they might be allowed in the future.. [SB 40] is centered on bets occurring in sports books only.”
Previous to Burnett’s clarification, the TwoPlusTwo forums were describing the proposed bill as a potential blow to the WSOP, and in particular high buy-in events such as the $10k Main Event, or the $1m buy-in Big One for One Drop. However, no one seemed sure why such a bill would be adopted, especially as it threatened Las Vegas’ showcase tournament series which each year brings tens of thousands of players to the state of Nevada, in the process creating a huge amount of good PR.
“I’ve seen a couple articles on the Board’s bill regarding certain types of wagers. Just to clarify, this isn’t a poker bill—it is solely related to sports betting only,” wrote Burnett in an email.

Other news:   Multi-state online poker compact bill introduced in Pennsylvania

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