Despite claims that it is going to become the next big thing in sports wagering, entity betting is off to a slow start in Nevada.
The reason? Lack of involvement among sports books.
In June 2015, Nevada Gov. Brian Sandoval signed the state’s entity betting law, which allows out-of-state residents to wager—albeit passively—with Nevada sportsbooks. Under the law, Nevada-licensed sportsbooks are now able to accept wagers from business entities representing pools of passive investors—a process that can be compared to investing in mutual funds.