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Nevada Governor Signs Updated Internet Gambling Bill Into Law

Nevada Governor Brian Sandoval has signed a bill into law that will allow his state to work with others to offer internet betting services.

The bill, which was formally known as AB114 made its way through the state's Legislature this week. Governor Sandoval wasted little time in getting it officially into the books, noting: "This is an historic day for the great state of Nevada. Today I sign into law the framework that will usher in the next frontier of gaming in Nevada."

The law dictates that internet betting operators must pony up a $500,000 license application fee as well as a renewal fee of $250,000. Overseas operators that offered action to Americans after the UIGEA was signed into law in 2006 will also be penalized in the law as there is a 5 year ban on those firms.

The bill was endorsed by U.S. Senate Majority Leader Harry Reid and was introduced after a lack of action by the federal Legislature.

The next step for the bill is to have the state's gaming regulators draft the rules and regulations for interstate betting agreements.

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