Mitt Romney Pushing for Federal Sportsbetting Bill

Senator Mitt Romney is working to put together and push through a federal sportsbetting bill that would put the topic on the national radar following the Supreme Court's decision to overturn the ban on the activity.

The bill is known as S.3793 and would work to ensure the integrity of major leagues, and would regulate the ability of leagues to sell data to sportsbooks. The measure is a bi-partisan endeavor, as Romney is working with New York Senator Chuck Schumer, and would seemingly outlaw betting on college sports, although the Olympics, Paralympics, and Pan-American Games would still be able to field wagers.

At this stage, the bill is still in the early stages of planning, and nothing in there is set in stone. It's yet to be revealed just how the proposed National Sports Wagering Clearinghouse (a way to facilitate data sales) would be set up, although a 0.25% tax on sportsbetting revenues would fund the organization.

Since the Supreme Court overturned PASPA, sportsbetting has popped up in several states. The ability to wager on sports hasn't caused any integrity issues that we've seen, and it's a real question if adding red tape to the process is necessary.

CL News is following this story and will update readers as we learn more.