For thus unfamiliar, staking refers to when a player’s buy-in is paid for by another person, with part of the profits of any win to be paid to the person providing the funds. It is widely used for rising stars who have yet to establish a bankroll or ailing pros who need help getting back in the action. However, according to reports, Nevada Senate Bill 40 may make the practice a thing of the past. Under the law, one can only place a wager for another if the person laying out the funds is properly licensed to do so. Penalties for violating the potential law include being charged with a category B felony, up to six years in prison and a fine of up to $5,000.
The law is ostensibly intended to help curb sports betting issues, but, as written, will affect poker as well. Whether it passes remains to be seen.