US congress committee lays out plans to update gambling legislation and tackle illegal sport betting.
[dropcap]A[/dropcap]s a recent study by the AGA estimates that the US loses $149bn a year to illegal sport betting. All the more reason why Congress is set to review federal gambling laws, a move which could eventually lead to new legislation covering sports betting and daily fantasy gaming.
The quagmire of contradiction that is US gaming law could soon be given a makeover as a congressional committee sets out to rewrite the country’s 24- year-old prohibition of sports betting.
The committee dedicated to introducing a new legal framework for sports betting is led by US representative Frank Pallone, a democrat from New Jersey, who proclaims that America’s prohibition of sports wagering is both “obsolete” and “in desperate need of updating.”
The laws need a wholesale review to see how they can actually work together and create a fairer playing field for all types of gambling, both online and offline, including sports betting and daily fantasy sports.
“The laws need a wholesale review to see how they can actually work together and create a fairer playing field for all types of gambling, both online and offline, including sports betting and daily fantasy sports,” Pallone told ESPN last month.
“At the same time, we must ensure the laws are actually creating an environment of integrity and accountability, and include strong consumer protections. I plan to continue discussions with the key stakeholders and then will introduce comprehensive legislation to finally update these outdated laws.”