Recently a man with a criminal background was able to place an $85,000 wager on Tiger Woods to win the Masters Golf Tournament through William Hill Sports Book and he made 1.2 Million dollars off the wager.
The question is:
SHOULD SPORTS BOOKS INVESTIGATE PEOPLE WHO MAKE LARGE WAGERS?
Here is an answer to that question:
Sports Books are only required to follow NEVADA GAMING REGULATIONS and STATE AND FEDERAL LAWS REGARDING MONEY WAGERED OR PAYED OUT TO SPORTS BETTORS.
Even with legalized sports wagering in other States each State has regulations to follow.
Federal laws require any money over $10,000 be reported and documented.
BANKS and FINICAL INSTITUTIONS must legally report deposits or with draws over $10,000 dollars. These are Federal Laws and Regulations that can not be avoided.
Sports Books in Nevada also must follow similar laws and regulations that are regulated by the Nevada Gaming Commission. The person making a wager or collecting a wager over $10,000 dollars must provide an valid ID and Social Security Card or fill out other forms stating they have a social security number.
However Sports Books are not required to do any type of background checks on a Sports Bettor or some one collecting a large wager.
There are requirements if something seems suspicious or out of place that Sports Books must follow.
Many Sports Books have players fill out Players Cards and provide information for mobile accounts already.
ISSUES SPORTS BOOKS COULD FACE IF THEY RAN AN INVESTIGATION:
I am sure there would be an out lash from people whom wager on sports.
Also who would be in charge of the investigation and who would see the information found?
What about things that are on the internet like on social media sights may bring other issues into the investigation ?
You would have to ask with living in a world where many people post stuff online where is the line drawn on crossing privacy laws and regulations?
PLAYERS CARDS AND MOBILE ACCOUNTS:
Some sports books offer players comps and other benefits. So if a person wagering gets a Players Card that will require the person to give some info like ID, Social Security, and personal info.
It is not required to get a players card from a sports book but some sports books can require a person making large wagers to get a card or refuse to take the wagers.
To get a mobile account players are required to give ids. social security, and private information.
CAN A SPORTS BOOK REFUSE TO TAKE A SPORTS WAGER?
Sports Books like any other business can refuse to take a wager from a person for any number of reasons.
I hope this answers some questions about Sports Books in Nevada.
The Outlaw Micheal Tomsik
