In what many are referring to as shocking news, the governor of Nevada only just recently signed Senate Bill 443 into law. So what? What’s the big deal with a new law in the state of Nevada?
How about this for a gamechanger? This new Nevada law for the first time ever in the history of online sports betting in the United States which allows cross border online sports betting. Well, sort of. Here’s what the law really means in it’s present form. In so many words, Senate Bill 443 legalizes what it refers to as sports betting funds. These so-called sports betting funds are in many ways structured much like conventional mutual funds are set up. However, what is more notable than anything else with Senate Bill 443 is that it for the first time ever allows these sports betting funds to accept money from participants who are not actually in the state of Nevada.
Did you read that last line? As you already know, online wagering in the United States is a very gray area. Of the few states that have set up online gambling operations such as New Jersey, as of now all of that activity is limited to state residents. As you can plainly see from Senate Bill 443, Nevada is in one sense pushing the envelope by allowing participants from outside the state of Nevada to engage in online sports betting.
That being said, one caveat regarding Senate Bill 443 that might actually allow this Nevada online sports betting plan to work is that it does not allow these out of state participants to actually pick the individual sports bet. Instead, these out of state participant have pretty much the same level of decision making authority as a mutual fund shareholder. If you stop a minute and think about it, this is a pretty clever strategy to work around current state and federal prohibitions on interstate online gambling. After all, since these sports betting participants aren’t really making the individual sports bets, technically there is no real violation of any existing online gambling laws.
If nothing else, you can see that Senate Bill 443 is a clever work around existing state and federal online sports betting laws. More to the point however is whether or not this new Nevada law has a longer term effect of loosening up restrictions on online gambling. Stay tuned as this situation continues to unfold.
Just seeing that word exotic up there in the title is enough to quicken the pulse of many a sports betting fan. And why not, exotic sports bets or by the more commonly used name, proposition bets can turn out to be some extremely profitable sports wagers.
First, a quick down and dirty definition so that everyone is on the same page here. A proposition bet, an exotic bet, a prop bet or sometimes even a side bet are all terms used when making a real money wager. However, unlike traditional sports betting where you are desperately trying to determine the winning team or player, the proposition is not concerned with that sort of thing at all. Instead, a proposition bet is more about taking a stand one way or the other about the occurrence or even the non-occurrence of a specific event. But get the point here, most often the proposition bet is not even concerned with the final outcome of the game (event).
Take a look at some common examples to get a better picture of what the proposition bet is all about. One simple example could be making a proposition bet on the number of actual balls and strikes thrown by an American baseball player. (Side note: some in the sports betting world make the claim that this sort of wager was the beginning of proposition betting.) Other examples could include such outcomes as which team is going to score first.
But hold on. Proposition bets are not limited to sporting events. Actually, there are quite a few wagers placed quite frequently on card games. One quick example is that of placing a bet on which cards are going to be dealt in blackjack. Interestingly, these proposition bets in table card games have grown so popular that at last count there are at least 35 different blackjack proposition bets to choose from.
Yet, even that is not the end of the story. Without exerting a whole lot of effort, you will quickly discover that there are also proposition bets for what is referred to as the pageantry surrounding a sporting event. Some examples here include making a wager on how long a particular segment of the National Anthem is sung, the color of the Gatorade and more.
The bottom line is this: exotic or proposition betting greatly expands the number of wagering options you can enjoy. Whether you pull it out often or only use it occasionally, the proposition bet is there for you.