U.S. federal sportsbetting proposal emerges

A leaked Congressional discussion paper is circulating at present on a new Federal sports betting proposal.

Industry speculation has pinned the author of the 37-page proposal to be soon-to-retire Utah Senator Orrin Hatch.

Key take aways from the untitled discussion paper comprise:

Clarification of the Federal Wire Act of 1961 and the strengthening of the Sports Bribery Act of 1964.

Gives power to the US Attorney General to veto State sports betting laws according to minimum standards.

Provides for interstate compacts between different States and Tribes.

The allocation of federal excise tax on handle of 0.25 percent will be deployed to sports betting matters through a wagering trust fund.

Mandates the use of official league data until 2023.

Minimum standards for problem gambling.

Advertising rules.

Allows for collegiate sports betting but bans amateur sports betting.

“Since the Supreme Court’s ruling in May, the AGA has consistently maintained that federal legislation regarding sports betting is not necessary,” Chris Cylke, vice president of government relations for the AGA, said in response to the news.

“That underlying position remains unchanged. At the same time, we remain committed to maintaining an open and constructive dialogue with policymakers considering sports betting legislation at any level of government.”

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