Currently, the opportunity to enjoy legalized sports betting in the United States is limited. Based on the 1992 Professional and Amateur Sports Protection Act, sports betting is limited to a handful of states. Only Nevada can offer single-game wagering while the state of Delaware is allowed to provide parlays as a form of sports betting. Now it seems this all could change as the federal government is considering legalizing sports wagering.
A report from ESPN, states that Frank Pallone, a Representative of New Jersey, is planning on leading efforts of a congressional committee to review the current laws regarding sports betting as well as online gaming. Pallone is part of the House Energy and Commerce Committee that will review the 1992 sports betting law along with the Unlawful Internet Gambling Enforcement Act of 2006 and the Wire Act of 1961.
The two laws above are relevant to the daily fantasy sports industry, an industry that the congressman as well as other lawmakers feel is a form of sports betting. In a statement, Pallone commented that the laws need a review to see how they can work together and create a playing field that is fair for all types of gambling, activities conducted online as well as in land-based form. This includes sports betting and daily fantasy sports.
At the same time, Pallone stated that lawmakers must ensure that the laws create an environment of integrity and accountability, including strong consumer protections. He plans on continuing to discuss the issues with stakeholders and introducing comprehensive legislation to update the outdated laws.
For now, Pallone has not stated if a timetable has been created for the legislation to be presented. Any sports betting law created on a federal level will allow the individual states to choose if they would like to opt in or out of offering the activity.
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