Signed by Governor Brian Sandoval

Vote Smart's Synopsis:

Vote to pass a bill that authorizes businesses to place wagers on sports.

Highlights:

• Authorizes a business entity to place wagers at a sports pool or race book if the business meets certain requirements, including, but not limited to, the following requirements (Sec. 3):
• The business establishes a wagering account with the sports pool or race book;
• The business discloses to the sports pool or race book the personal information of certain individuals, including, but not limited to, the business’ directors, managers, and any individual who will receive payments based on wager revenues;
• The business maintains a bank account within the state for transferring and receiving money used in wagers; and
• The business makes its records available for review by the State Gaming Control Board.

• Prohibits a business entity from paying or placing a wager for an individual whose personal information is not disclosed to the sports pool or race book (Sec. 3).

• Authorizes the Nevada Gaming Commission to establish regulations to carry out the provisions of this bill (Sec. 3).

• Classifies a violation of the provisions of this bill as a category B felony, punishable by imprisonment for a term between 1 and 10 years, a fine of no more than $50,000, or both (Sec. 3.5).

Full Bill Text