US Sports Betting: Federal Regulation vs Oversight

US Sports Betting: Federal Regulation vs Oversight


Hey everyone! J.Todd coming to you from
the Fremont Street in Las Vegas, Nevada,
and here’s what’s happening This Week in
Gambling…. Aw hell no!
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Hello my friends, and welcome to the new
and improved This Week in Gambling! The
good news is these videos are now more
clear and easy to see… the bad news is my
face is now more clear and easy to see.
We have interesting gambling news to
cover this week, including the National
Football League taking a casino partner
but first here’s this week’s big story.
Last year’s Supreme Court ruling opened
the door for states to regulate sports
betting… and boy did they ever! The
activity is now legal in eight states
with legislation pending in 22 more.
Of course, not everyone is happy about this.
A few weeks ago a federal bill was put
forward that would take regulation of
sports betting away from the states and
hand it right back to the federal
government. The bill was put forward by
two senators who claim they’re trying to
protect players and the sports leagues
from corruption… Oh really?!
One of the senators behind this bill is
Orrin Hatch of Utah, a career politician
who was elected to office in 1976 when
he ran on the promise of… get this… term
limits! The other is Senator Charles
Schumer of New York, who helped bail out
Wall Street, then reaped millions of
dollars in campaign contributions from
them! So, I guess if there are any two
senators qualified to recognize
corruption, it’s these two!
Fortunately for us, Hatch just retired so here’s to
hopin’ the door tattoos his ass on the way out.
However Schumer’s lily-white hiney is
still sitting up on Capitol Hill… so the
threat from this bill is still very real.
Now it’s important to note the
difference between federal oversight and
federal regulation. Oversight simply
means that there would be an established
set of minimum standards which the
states must follow in order to regulate
sports betting. Most of the professional
leagues and the gambling operators
prefer that method. Federal regulation is
altogether different, taking control away
from the states… a move which the
American Gaming Association recently
called “…a solution in search of a problem”.
In fact, I spoke to the AGA about this
very scenario a few years ago, and you
can find that video interview on our
YouTube channel.
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[MUSIC]
We still have gambling news from the
National Football League to cover
we’ll get to that in just a moment. Be sure to
check out our website at
ThisWeekInGambling.com for all the stories making
headlines and gambling videos about
games that are coming out both online
and land-based. For example this week’s
game review… Star Watch Magma is a
5 reel, 60 line slot machine from our
friends at Konami Gaming. It’s delivered
on both their Concerto Stack and
Concerto Crescent cabinets, plus it
features their famous Strike Zone game
mechanic. Please subscribe to our YouTube
channel and click that bell to get
updates when we release a new video.
Finally this week, the National Football
League just announced that Caesars
Entertainment has become their official
casino partner!So, after years of
fighting the gambling industry at every
possible opportunity, the NFL has a
multi-year agreement with a casino…
Well there’s a kick in the danglers!
This not only means that you’ll see NFL branding
at Caesar’s casinos, but that Caesars
Palace in Las Vegas will host parts of
the 2020 NFL Draft! So, Caesars makes money,
the NFL makes money,
and I’m sitting at home eating Ramen noodles
With sprinkles on top!

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