Nevada legalizes sports betting funds

[Darkside Magick]

http://espn.go.com/chalk/story/_/id/13006097/nevada-legalizes-sports-betting-investment-funds-espn-chalk

[Ra77er]

This is awesome news.

[jjgold]

You would have to be the biggest sucker that ever lived to invest in a gambling fund in Las Vegas nobody wins betting sports this is not like the stock market

Lol.. Horses too

What will happen a fund will not be able to get down more than $2000 on most events so therefore you can't grow money this is not like stocks where you can invest $10 million a day on a stock

[Darkside Magick]

for the Rec. bettor this just another option.....as the article stated the bookies could refuse these bets from said entity

[jjgold]

It has failure written all over it it's just another way for touts to scam the poor investor

I don't know if you guys realize but in Vegas you can't make big wagers without all your personal information and betting history

Everything you need the card to bet over about $500

What happens if the fund gets hot and the sports book cut your wagers to $10 a game there goes the fund

This has to be the stupidest thing that's ever been passed

[Ra77er]

gold are you on drugs? If the book cuts your limits then you don't play there anymore. This is a nice option for those of us that don't bet 1 million per game to keep our funds stateside and legally.

[Vegas39]

It has failure written all over it it's just another way for touts to scam the poor investor

I don't know if you guys realize but in Vegas you can't make big wagers without all your personal information and betting history

Everything you need the card to bet over about $500

What happens if the fund gets hot and the sports book cut your wagers to $10 a game there goes the fund

This has to be the stupidest thing that's ever been passed

[jjgold]

lol........guys

So I can take bets now from anyone outside of Nevada if I register?????????????????

I sign up and then book bets and as long as I make the actual bets for the players and keep the slips, records I am ok??

HUH????????????????????????????????????? ???????????????

[Ra77er]

I see what you're saying JJ. Maybe I am the one on drugs. Books wouldn't take the kind of action from a fund to be worth shit. Still though maybe this could open up other legislation avenues.

[jjgold]

Ray correct

It has to be a fund..no way it manages bets for individual people outside of Nevada..

It might help some more liquidity but fund can never do well because you cannot get down massive volume..it would be pennies

[Darkside Magick]

lol........guys

So I can take bets now from anyone outside of Nevada if I register?????????????????

I sign up and then book bets and as long as I make the actual bets for the players and keep the slips, records I am ok??

HUH????????????????????????????????????? ???????????????

thats not hows it is going to be run

they place bets as investment like mutual funds

example...if you want high return with high risk you may go with a firm who plays high plus money plays and you get a statement every month to see how your investment doing

[Ra77er]

Ya I get it now, you just type some weird shit for me to understand sometimes. The mutual fund would never work because if 10 or 20 of us with a few g's got together,betting limits would be getting pounded and we would get reduced to peanuts if we ran hot somehow.

[Ra77er]

Another issue is it opens the door for scammy "fund managers" and the like. Yikes I have 180'd here.

[Vegas39]

Another issue is it opens the door for scammy "fund managers" and the like. Yikes I have 180'd here.

that will be a huge issue I think, Brock and Clippers probably setting up a website as we speak

[Ra77er]

Well stated Vegas, I still am pissed at Clipper504.

[Vegas39]

Well stated Vegas, I still am pissed at Clipper504.

he will guarantee a 35% return

[jjgold]

[DrunkHorseplayer]

JJ is absolutely right; this law is good for tout monkeys and the books but not for bettors. I go to a handful of places to make my bets because anything into four figures (and sometimes lower) and they want a player's card. They should repeal the prohibition against messenger betting but the books will bribe the politicians to back off.

[DRB]

Does 1984 ring a bell ? Gotta side with JJ on this - it is ridiculous.
Oh by the way, you also have to sign a release of all of your phone records and texts
to make sure you haven't violated any of the 1000 rules of the " investment firm "

[Ra77er]

Ya I am a huge hamburger. Darkside will get there I am certain.

[Bigbill365]

This will be great for hedge oppurtunitys and live betting.Im assuming thats how theyll mak money theyll have acess to amounts of money none of us can so a $1 arb could make big gurantee money.

[Ra77er]

Bill I'm glad that book didn't do any physical harm over that 50 spot. What did you end up spending this mysterious 50 on anyway?

http://www.sportsbookreview.com/forum/players-talk/3081373-book-over-paid-me-50-says-i-have-give-back-now.html

[Vegas39]

Who makes first thread they were scammed bigbill or bear

[Ra77er]

Bill for sure, I can't see bear "pioneering" with sports betting mutual funds.

[jjgold]

This is a tout haven especially the big name touts

They are going to legally scam so many people promising big returns

95% of returns will be negative percent because that is what sports betting is

[DRB]

Maybe Bernie Madoff will start one of the funds

[jjgold]

I think this'll eventually get banned once we scams/theft and abuse

[Vegas39]

I think this'll eventually get banned once we scams/theft and abuse

Only good thing is they must hold account with Nevada financial institution. Though they could wipe that clean and scam people.

Kinda agree JJ may be a huge mess

[DRB]

for the Rec. bettor this just another option.....as the article stated the bookies could refuse these bets from said entity

The bookies could refuse bets now if they don't like your haircut.
Our freedoms are being chopped away in every direction at every opportunity.

A guy needs to join a corporation so he can place a $50 bet on a sunday afternoon and watch a football or baseball game with his
family for some entertainment. Land of the free right.

[El Nino]

Pass

[eidolon]

I'm trying to understand this:
So it would work like a hedge fund? One "guy" would make all the bets that that "guy" thinks is best for everyone? Is that how it would work?

[Vegas39]

I'm trying to understand this:
So it would work like a hedge fund? One "guy" would make all the bets that that "guy" thinks is best for everyone? Is that how it would work?

in a nutshell yes

rumor is SBR John gonna set JJ up to run one

[jjgold]

Anyone know qualifications to set one up??

[Vegas39]

Anyone know qualifications to set one up??

The business entity must maintain an account with a bank or a financial institution in Nevada. It also must keep original copies of records of the bets from the sportsbooks, in addition to any records required by the state's business laws. Anyone entitled to profits from the entity must be at least 21 years old and provide personal identification, including Social Security number or tax identification.

[jjgold]

The business entity must maintain an account with a bank or a financial institution in Nevada. It also must keep original copies of records of the bets from the sportsbooks, in addition to any records required by the state's business laws. Anyone entitled to profits from the entity must be at least 21 years old and provide personal identification, including Social Security number or tax identification.

lol..any idiot then.....oh boy I feel bad for people that are going to give money to Vegas bums