Q: Is it legal to form a LLC(w/ mult members)in the state of Nevada for the purpose of entering casino sportsbook contests?
There would be an Nevada resident and a out of state Resident(s) as well as the LLC members. This would simply be so that any winnings would be declared by LLC and then distributed legally to the members based on ownership. This is not intended to bet sports or gamble in the traditional sense. There is a 1k entry fee to these contests and they pay out to a certain amount of the top finishers in the standings after the full season. So for an example, the William Hill college football pick’em contest is 1k to enter and 1st place is 500k. So if we were to somehow win, it would be accepted by the LLC and distributed to the members appropriately.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.