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Vig & Juice Ep.3: The Wire Act
May 20, 2019  |  By Vela Wood

In this episode, we cover arguably the most monumental piece of legislation regarding sports betting – the Wire Act of 1961 – which prohibited using wire communication for betting and wagering across state lines. We discuss what the Wire Act means for online gambling and whether the act applies only to sports betting or to gambling in general. Read More

This is Howey. Do it.
April 30, 2019  |  By Lacey Shrum

Earlier this month, the SEC posted guidance and a No-Action letter to Turnkey Jets, giving more insight into the particular way the Howey test is applied to tokens. Read More

Vig & Juice Ep.2: First U.S. Sports Betting
April 3, 2019  |  By Vela Wood

In this episode, we discuss the first sports betting in the U.S. up to the Wire Act of 1961, including horse racing, the spectator sport known as pedestrianism, and using state lotteries to fund the Revolutionary War. Read More

Vig & Juice Ep.1: Three Elements of Gambling
March 25, 2019  |  By Vela Wood

In this episode, we explain the meaning of Vig & Juice, discuss gambling’s roots in Greek mythology, and lay out the three elements that define gambling. Read More

Wyoming: Move Over, Delaware!
March 6, 2019  |  By Lacey Shrum

Wyoming’s 2019 legislative session just wrapped up, and as of close the state has signed 13 blockchain-friendly laws into effect. These laws are a strong play to attract blockchain businesses and development to the state of Wyoming. Read More

What Is A Smart Contract?
February 28, 2019  |  By Lacey Shrum

A smart contract is simply a piece of code that is executed on the blockchain network. It may or may not be a legal contract. As most code does, it runs off an “if/then” statement. Blockchain allows this code to run on a distributed system, across thousands of computers participating in the network, thus in a completely autonomous, tamper-resistant way. Read More

Bitcoin’s Solution To The Double Spend Problem
February 18, 2019  |  By Lacey Shrum

Until blockchain technology, an electronic currency was a dream beyond reality because no system could prevent a holder from spending her coin twice. Read More

Keep Your Investors Updated (Part II)
February 11, 2019  |  By Kevin Vela

A few years ago I wrote a blog about how important it is to keep your investors updated. That is as true today as it was then, but I want to highlight another benefit that I neglected to point out then: … Read More

The Hidden Cost Of Accelerators
December 6, 2018  |  By Kevin Vela

Accelerators are popping up all over the place. And I’m not sure that this is a good thing. Typically, an accelerator provides a little cash for a little equity, and some guidance or advisory services for a little more equity. Some … Read More

Believe In The Value Of Your Product
December 6, 2018  |  By Kevin Vela

I ran into a client this morning who told me about a difficult negotiation he’s currently having with a critical customer. The customer represents a significant portion of his startup’s revenues, but servicing the contract is so cumbersome that it … Read More

Beware Of Your First Investor
November 20, 2018  |  By Kevin Vela

We’re well aware of how critical it is for a startup to raise capital. I’ve yet to see a startup that can generate revenues without raising capital. This is the same for just about all small businesses besides service businesses. … Read More

Restricted Equity v. Options & 83(b) Elections
November 7, 2018  |  By Vela Wood

Recently formed companies often issue restricted equity to stakeholders, but once the companies close a funding round or achieve significant revenue, restricted equity is inappropriate. Instead, the company needs an option plan and to issue options. This blog will answer, … Read More

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