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Operators are not allowed to provide credit for sports betting and players are not allowed to transfer funds to other players. Those planning on betting have a five-day window to draw funds from their account. Pay: Top lawmaker introduces bill for $15 minimum wage by 2024 Fantasy sports operators would have to provide proof that they maintain their equipment. Any equipment used in fantasy sports must be located in Atlantic City. Just as state regulators are allowed to inspect casino table games and slot machines, the new rules would allow theDivision of Consumer Affairs to inspect the fantasy sports betting facilities and their computer servers. The slot machines state would require annual audits and restrict the operators from mingling money from bets with other accounts. The Division of Consumer Affairs proposed new rules that would require fantasy sports operators to get a permit and pay a fee based on their fantasy sports gross revenue. (Photo: Courtesy of NJ Division of Consumer Affairs) Statistical information that could affect fantasy sports can't be shared with third parties until it is publiclyavailable. The proposal also bans fantasy bets on high school sports.
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In addition, the bill calls for the formation of the National Sports Wagering Clearinghouse, which would collect anonymized sports betting data in real-time, including the amount and type of wagers, date and time in which the bet was accepted, where it was placed and the outcome. The goal of the clearinghouse would be to monitor for any unusual betting patterns, a potential sign of corruption. Hatch's comprehensive legislation also addresses sports betting advertising and problem gambling, and looks to amend two federal gambling statutes. The bill would amend the Wire Act of 1961 to allow sportsbook operators to lay off bets to other states through compacts, and strengthen the Sports Bribery Act of 1964 by adding extortion, blackmail and wagers based on non-public information as violations. The draft bill is the first federal sports betting legislation that has appeared since the U.S.
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