The reign of state-regulated U.S. sports betting might be over before it even began because the federal government introduced a bipartisan bill to supervise sports betting across the country.
The bill is named the Sports Wagering Market Integrity Act of 2018 and according to its creators, Senators Orrin Hatch and Chuck Schumer, its purpose is to enforce “safety measures to protect consumers, preserve the integrity of sporting events”.
Where Do Sports Leagues Stand In Sports Betting
Other than the Republican and Democratic parties, another entity involved with the bill is the NFL. The league has stopped short from state-by-state lobbying, something other major sports leagues have kept themselves busy with these last few months.
Instead, the NFL chose to gain more influence over the federal legislative body.
Jocelyn Moore, NFL executive V.P. of communications and public affairs, stated that consistent federal oversight in sports betting is necessary in order to protect the integrity of sports. With this bill, states would have to ensure all sports betting operations follow core principles against problem or youth gambling, and dishonesty in sporting contests.
The bill that was introduced to the Senate last Wednesday prohibits sports betting on amateur events (excluding the Olympics and the NCAA). Along with the standard gambling age limit, it also forbids betting by individuals associated with any sports organizations.
Pro Leagues To Profit From Sports Betting Fees
The bill also favors the interests of sports leagues such as the NFL by requiring sports betting operators to only use league-provided data when determining the outcomes of sports wagers. The NFL and other major leagues would naturally only provide such data against a fee, thus ensuring a constant revenue stream flowing from sports betting operators towards sports leagues.
At the end of the day, preserving the integrity of sports contests is far from the only way this bill would benefit the NFL and sports leagues in general. Should the bill pass, it would secure sports leagues their coveted piece of the sports betting action. Sports leagues are most likely to become permanent beneficiaries of sports betting revenue, which could mean soon official sports leagues platforms could become the gateways for sports betting themselves.