Amid the California online poker legislation talk and the return of Andy Beal to the Bellagio, a small story with the potential for huge industry-wide ramifications has quietly been gaining steam: Nevada Senate Bill SB40.

SB 40 is designed to prevent sports betting proxies from placing bets (either for a fee or a share of the proceeds) without being properly licensed in the state, but based on its current language the bill would ostensibly make staking in poker tournaments a felony in the state, and this has some poker players extremely nervous.

SB 40 was pre-filed on behalf of the Nevada Gaming Control Board on December 20 but just came to light this past week.

What does SB 40 do?