Federal Sports Betting Regulations Proposed in US Senate

Senate Minority Leader Chuck Schumer (D-N.Y.) became the latest member of Congress to put forth specific suggestions for Federal sports betting regulations in a memo first provided to ESPN.

Schumer’s suggestions include the idea that all sports books only use official league data to determine outcomes and that the sports leagues themselves should be involved in determining what bets would be accepted.

Schumer also suggested leagues would have to reasonably step up monitoring, but did not mention so-called “integrity fees,” the idea that leagues should be paid a portion of bets on their sport as compensation for ratcheting up security associated with sports gambling out in the open.

Schumer also puts forth more obvious suggestions, such as making it illegal for anyone under 21 to place a sports bet in any state; requiring entities taking bets to responsibly advertise by not targeting youth and to properly disclose dangers of betting; and reporting suspicious activity and sharing information among sports books, the leagues and state regulators that could help uncover anything that compromises the integrity of games.

You can read more on the proposed Federal sports betting regulations at ESPN.