Speak Out Against SB40
In case you missed it, the Nevada Senate is considering a measure that could potentially make staking poker player illegal.
The bill is SB40 and is intended to curtail money laundering through sports betting proxy services.
However, part of the bill could be used against poker staking because the bill would make facilitating bets on "future contingent events" illegal.
Even casual fans of poker know that backing is big business in poker. In fact, many big name "pros" wouldn't be able to play without some type of backing.
Personally, I am not a fan of backing and I never allowed myself to be backed in poker tournaments. However, I still believe that the option should be available to those who want to take advantage.
Poker players are not trying to launder money through backing other players. They are putting up the buy-ins so that their stake horses can take a shot at scoring a huge payday.
This bill in its current form would set a precedent for other states where gambling is legal and could potentially cripple the live poker industry.
Could you imaging the fields of events such as the World Series of Poker where players were not allowed to be backed? The bill would essentially kill much of the progress enjoyed by the game over the last decade.
Odds are that some type of exception for online poker will be floated in the future. However, until that exception is made, I urge those of you in the Nevada area to contact your state representatives and senators and demand they look closely at this issue.
SB40 is a well-meaning bill, but it needs to be modified or the live poker industry will suffer the consequences.