Q: How do I file for a sports handicapping business LLC in Nevada? What NAICS classification should I use?
I am looking to start a sports handicapping business. For a fee, customers can purchase a subscription and receive a report with the sports picks I believe have the best value against the Vegas odds. I will not be placing wagers for my customers, running any type of fund, or anything aside from informing them about what I will be betting on and what I believe represents good value from a bettor’s perspective.
What NAICS classification should I select for this business? In Nevada, I am required to pick a NAICS code when filing for my LLC. There are several consulting categories, but none of them fit my business. Are there any additional legal steps or written notices I would need to provide for my customers to affirm the type of business I have, such as reiterating that this is not financial advice, we do not place wagers on behalf of customers, etc..?
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A: In Nevada, to establish a sports handicapping LLC, you'd generally follow steps like selecting a unique LLC name, appointing a registered agent, and filing Articles of Organization with the state. For the NAICS code, consider "711510 - Independent Artists, Writers, and Performers". It's crucial to have clear terms of service for your clients, emphasizing the advisory nature of your business. For personalized legal advice tailored to your unique circumstances, it's advisable to consult with an attorney.
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