A look back…

Forty years ago, Congress passed a comprehensive bill for horse racing that could be a model for nationwide sports betting legislation.

The federal law — the Interstate Horseracing Act — even includes a “consent to bet” clause that may cause certain US sports league executives to drool.

Related developments in sports wagering are proceeding at a rapid pace, increasing the chances that Congress will weigh in soon.

Indeed, in just the last two months, potential sports betting legalization has moved from the US Supreme Court to the Indiana statehouse. The draft bill out of Indiana even mimics the 40 year-old horse racing statute, with a clause allowing sports governing bodies to “restrict or limit wagering” on certain events…

Source: How A 40-Year-Old Horse Racing Law Can Nudge Sports Betting Forward