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Proposed Law SB40 Bad For Poker Player Stakers

Bids to restrict messenger betting could affect staking and investment in players.
Professional poker players in major tournaments, especially in the USA, who sell part of their action to investors who are not themselves playing, could be impacted by the recent clampdown on anti-money laundering by the US Treasury's Financial Crimes Enforcement Network.
The watchdog has recently issued warnings to American gambling companies regarding the dangers of money laundering and the concealment of sources of gambling money, and in response Nevada lawmakers have crafted an amendment to state law in bill SB40 that will specifically ban "messenger betting" - the placing of bets through a third party resident in Nevada.
Gambling companies are already required by federal law to notify the Financial Crimes Enforcement Network on any cash bets over $10,000.
Another federal law - the Professional and Amateur Sports Protection Act - restricts sports betting to just four US states, with Nevada enjoying the most latitude. That has resulted in a situation in which punters in other states where sports betting is illegal try to place bets in Nevada through third parties...hence the messenger bet, which the Treasury is worried may be exploited by money launderers.
Nevada's state Gaming Control Board is driving SB40 in order to comply with federal government requirements, and it seeks to obviate messenger betting by beefing up the existing requirement that any person or entity accepting a bet on behalf of another must comply with regulations and be licensed by the state.
SB40 does this by extending the scope of the existing law to any unauthorised person or entity who financially benefits from third-party betting activity or receives "...directly or indirectly, any compensation or reward, or any percentage or share of the money or property played."
On the face of it that would appear to embrace your action-selling poker players, and perhaps even revenue-sharing affiliate marketers...and the amending bill makes the offence a felony, with tough punitive provisions.

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Gambling News :

Phil Ivey Loses Borgata Casino - Phil Ivey has lost in his four-year legal tussle with the Borgata over baccarat winnings; on Friday a US federal judge ruled that he and a companion violated New Jersey state gambling regulations in the manner in which they won nearly $10 million playing at the Atlantic City casino.

NYX Gaming in deal with Endemol - "Endemol Shine’s IP will be a strong addition to the NYX portfolio of content and we look forward to working together to bring additional instantly recognizable brands to market.”

NEW CAMBODIAN GAMBLING LAWS - After more than two years of debate and drafting, Cambodia may be closing in on final agreement regarding its proposed gambling law changes.

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Playtech Acquires ECM Systems - Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.

Marks and Spencer store Manager steals to Gamblie Online - The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.

Chinese Gambling crackdown could damage high roller revenue - Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.

EvenBet Open Face Chinese Poker - Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.

PartyPoker Millions tournament guarantee Now GBP 6 million - Online poker operator PartyPoker announced Thursday that it is to boost its PartyPoker Millions tournament guarantee by a million sterling to GBP 6 million, claiming it is now the biggest prize pool guarantee in European poker history.

2016 EPT Malta - The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.

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