OK.
How to you expect to control "insider" betting?
Let's say the starting pitcher for Alabama is having shoulder problems but the team hasn't disclosed this because they don't want the opposition to know. Lets say that is Vanderbilt. he's not having a problem with his fastball but his curve. Freshmen First Year outfielder finds out and sends a text to a buddy that the starter is likely to get lit up. Buddy bets against AL and tells another buddy on Vanderbilt just to make sure his bet is solid. "sit on the Fastball" he says.
In the MLB, any of those players is taking their careers at great risk. A college player? Not so much. Plus, they are not very mature.
I get this can go on underground in illegal betting and probably has for years. But when you do that illegally, you know you have no recourse. with this, the consumer assumes it is above board and they aren't getting cheated.