Wednesday, August 29, 2018

Sports Betting: Shut up Chuck.

Since the SCOTUS struck down PASPA people have been waiting for the Federal Government to weigh in on sports betting.  If recent comments by New York Senator Chuck Schumer are any indication, we'd be better off if they'd just stay out of it.

Chuck Schumer Suggest Federal Framework for Sports Betting. Darren Rovell, ESPN

Schumer's suggestions include the idea that all sports books only use official league data to determine outcomes and that the leagues themselves should be involved in determining what bets would be accepted.

No and no.

First off, giving the leagues a monopoly on data is a sure-fire way to further enrich owners (read: Schumer's campaign donors) but does little to assist the bettor in almost any situation. It creates a monopoly on data and shoves out independent operators who are, in some cases, providing better statistical data than the leagues themselves.

Second, giving the leagues control over what bets are accepted is just wrong. Sports betting is a marketplace, let the market decide what the action is.

If this is what we are to expect from Federal legislation regarding sports betting then we're better off taking a pass and letting the States decide.

It is perhaps no coincidence that most of the major league offices reside in New York, so Sen. Schumer is beholden to their interests.  After all, they have his ear and their relatively large pocketbooks have his undivided attention obviously.

Go away Chuck, let the adults in the room work things out.

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