Entity Wagering May Quickly Become a Thing of the Past in Nevada
OSGA.com, March 1, 2018
by Glenn Greene
Predicting the end of this Nevada legislation was the year’s Best Bet
Only a year ago I wrote a two-part report on why I confidently knew the colossally misguided idea of “entity wagering” was doomed to fail. The past week’s headlines have helped confirm my easy suspicions of this plan when one of the more known company’s attempting this venture closed their books. Sadly, they took some delusional people and their money with them for the ride.
To refresh our memory, here are the basics that were laid out to attract “investors” in this get-rich slow scheme, headquartered and only taking place in Nevada:
Entity Wagering 101 Update
Entity wagering can most simply be described as a sports betting mutual fund. Investors (bettors) bought into the fund with the entity manager subsequently investing money in preferred sports bets instead of traditional businesses or companies as in a mutual fund.
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