Staking Still a Viable Option in Nevada

Numerous reports over the week have discussed a law that is currently under proposal in the state of Nevada. This new law seemed to have language that would stop players from staking or being staked in the game of poker. This is a common practice, especially at major events including the World Series of Poker. It has now been announced that the new bill is referring to sports betting and poker staking will not be an issue.

A.G. Burnett, the Chairman of the Nevada Gaming Control Board, spoke with Pokerfuse and stated that the law would only apply to sports betting and not the game of poker. The new bill, titled SB 40, was filed for the Gaming Control Board and stated that wagering on ‘future contingent events’ made many believe that poker would be considered in this grouping.

The bill states that anyone found to be receiving any compensation or reward, directly or indirectly, as well as a percentage or share of money or property played, of a wager not licensed under a state, municipal or federal law would be subject to legal punishment. As explained by Burnett, the term ‘future contingent event’ is in regards to sports books not always taking strictly sports related bets and the bill is centered on bets taking place in sports books and nothing else.

This is good news to players who take part in staking. As mentioned, the WSOP is the most common occurrence of poker staking known to the general public. Many professional players will sell a piece of the poker action to be able to take part in high buy-in event without having to put up their own cash. This can also be said for recreational players who may not be able to afford the high buy-in for such events as the Main Event which has a $10,000 fee.