U.S. Senator Suggests Federal Oversight of Sports Betting

Federal framework for sports betting is gaining momentum in Congress, as Senate Minority Leader, Chuck Schumer, becomes the latest er of public oversight for sportsbooks.

The Senator’s suggestions to determine sports outcomes are based on the official league data, without the direct involvement of leagues themselves. Schumer indicated that the national sports associations would have to intensify supervision and security measures as well, but he refrained from mentioning certain “integrity fees,” since all leagues are required to pay a portion of bets as compensation for potential security expansion at public sports events.

Strict Rules for Safer Gambling

The Senator’s long list of suggestions also includes stricter regulations for anyone under 21, as well as further advertising requirements of entities that take bets in any state; according to the framework, disclosing dangers of betting involve reporting illegal betting activities and insider trading among sportsbooks too.

On the other hand, using official data could provide an enormous revenue increase for the leagues, giving them strong monopoly over bets. The integrity of sports wagering would become compromised, allowing illegal market to skyrocket to galactic proportions overnight.

Sara Slane, Senior Vice President at the American Gaming Association said…

“Federal oversight of sports betting was an abject failure for 26 years, only contributing to a thriving illegal market with no consumer protections and safeguards. New federal mandates are a non-starter.”

Compliant with Sports Leagues

Schumer’s radical suggestions are perfectly balanced with national sports leagues, including the NBA, MLB, NFL, NCAA and others.

The national framework is mandatory, according to the sports leagues, as it prevents all states with legalized wagering on sports to establish their own rules, simultaneously safeguarding millions of sports fans across the county.

The Senator said in an official statement that as a New York sports fan his priority is to make sure that the integrity of the games is preserved, and that young people or those who are suffering from gambling addiction are not taken advantage of. The federal government must take initiative and provide fundamental guidelines to impede further uncertainty and confusion, added Schumer.

Source:

“Senate Minority Leader Chuck Schumer suggests federal framework for sports betting”, Darren Rovell, espn.com, August 30, 2018.