The Federal Government is known for it's desire to regulate new enterprises to make sure they operate in a legal and sound manner. Online sports betting is no exception. Democratic Senate Minority Leader Chuck Schumer has teamed up with Republican Senator Orrin Hatch to craft a bill regulating online gambling.
Key parts of the bill include a mandate for sports gambling operators to use data provided by the sports leagues. This is already happening in a piecemeal basis. The NBA for example has a deal with MGM Resorts. The Hatch/Schumer bill would create a National Sports Wagering Clearinghouse. This oversight body would analyze the wagering data. Any suspicious data would be shared to sports wagering operators, state regulators, sports organizations and federal and state law enforcement.
The proposed bill would ban wagering on amateur events except for the Olympics and College Sports. There would also be a national self exclusion list that people can add their name to if they have a gambling problem.
The bill has encountered some recent opposition. The American Gaming Association, the casino industry's voice in Washington, spoke out against internet gambling regulation.
The federal government is currently shut down since December 21st due to the President's demands for a wall. It seems like Washington is focused on other issues for the time being. We shall see how Senator Schumer's bill fares in 2019.