Utah Senator Mitt Romney has proposed a debate concerning a federal sports betting bill. The modifications that Mitt Mr. Romney is working on are pretty exciting because it opens new doors for locals in the state. On the word of the people who are close to the matter, the Senator has joined hands with his counterpart from New York State, Mr. Chuck Schumer.
More particularly, the two Senators have been working on a law that follows the Sports Gambling Market Integrity Act. Although everything appears to be in the preliminary stages, he has already received significant backing. The new bill is also supported by former Utah Senator Orrin Hatch, who stepped down allowing Mitt Romney to take the reins.
The bill that Mr. Romney and Co are currently working on was first introduced in December 2018. However, it wasn’t allocated to any committee. The piece of legislation referred to as S.3793 follows the path of a handful of states which were permitted to develop exclusive frameworks to allow gambling within their territory.
A quick look at S.3793, the New Federal Sports Betting Bill:
- Currently, S.3793 doesn’t touch on integrity fees. The bill is to focus on official league data.
- The bill plans on the formation of the National Sports Wagering Clearinghouse, which will receive a 0.25% funding from the federal excise tax on sports gambling handled in the US.
- Even as S.3793 is not any close to tangible solutions, it has a stipulation that prohibits wagering on college sports, except for Paralympic Games, Pan-American Games, and Olympic Games.