by Dustin Gouker, Legal Sports Report
The draft is being circulated by the office of Sen. Orrin Hatch.
After promises from more than one senator to move forward on sports betting and a recent subcommittee hearing in the House of Representatives, the draft surfaced. It comes about six months after the US Supreme Court struck down the federal ban outside of Nevada.
A quick look at the bill
Here’s what the bill would do from a bird’s eye view:
Appears to give veto power to the federal government on state sports betting laws, if the laws don’t meet minimum standards.
Bans states from authorizing betting on amateur events but allows for college sports betting.
Amends and clarifies the federal Wire Act to allow for some amount of sports betting information to flow across state lines.
Mandates use of official league data by sports betting operators from sports leagues (or their proxies) through 2022.
Creates a “national sports wagering clearinghouse” that operators provide wagering data “in real time” or close to it.
Allows for interstate sports wagering compacts to be entered into between different states and tribes (also subject to AG approval).
Says that the federal excise tax of 0.25 percent of handle will now be placed in a “wagering trust fund” for deployment on sports betting matters.
Sets up minimum standards for dealing with problem gambling for operators and related to advertising.