Senator Chuck Schumer of New York made headlines recently with his proposal for Federal sports betting regulations in the US Congress. However, Nevada has been successfully regulating the industry for over 50 years, and New Jersey has been regulating casino gambling for almost that long. Plus, the American Gaming Association has offered their opinion on the matter. This week’s special offer is for the BetRally Casino.

Senate Minority Leader Chuck Schumer (D-N.Y.) became the latest member of Congress to put forth specific suggestions for Federal sports betting regulations in a memo first provided to ESPN. Schumer’s suggestions include the idea that all sports books only use official league data to determine outcomes and that the sports leagues themselves should be involved in determining what bets would be accepted. Schumer also suggested leagues would have to reasonably step up monitoring, but did not mention so-called “integrity fees,” the idea that leagues should be paid a portion of bets on their sport as compensation for ratcheting up security…