Chuck Schumer's Sports Betting Plan Could Require Books To Use Official League Data

Less than three months before Election Night, Senate Minority Leader Charles Schumer outlined a policy proposal on Wednesday aimed at creating a federal framework for the legalized sports gambling market in the United States.

Schumer is hopeful that the proposal can inspire a bipartisan debate in Congress on the ramifications of federal oversight of sports betting in the wake of a historic decision by the Supreme Court in May. In a 6-3 vote, the nation's highest court struck down a quarter-century federal ban on sports gambling. The proposal comes less than a week after Senator Orrin Hatch of Utah said in a speech on the Senate floor that he plans to move forward with legislation pertaining to sports betting in the coming weeks.

Schumer's proposal, according to a statement from his office, is centered on three core principles: ensuring consumer protections for individuals placing bets, protecting problem gamblers and fans under the age of 21, and maintaining the integrity of the game. Schumer, a Democrat from New York, is urging state legislatures around the nation to take the policies under consideration ahead of the 2019 legislative session.

Over the next five years, more than 30 states nationwide could approve sports betting legislation, according to a study from Eilers & Krejcik Gaming LLC. As states consider whether to add sports gambling, Barclays estimates that the legal gambling market in the U.S. could bring net revenues to the industry of as much as $10 billion a year.

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