Lawmakers Propose Bill to Restrict Sports Betting Ads
Despite being a hobby that millions of people enjoy, Sports betting has always been a touchy issue. Ever since sports betting became legal in after the repeal of the PASPA act, lawmakers have louder about it. With that in mind, Lawmakers Propose Bill to Restrict Sports Betting Ads on a federal level.
According to Pay per head news, Senator Richard Blumenthal and Representative Paul Tonko want stricter betting restrictions. These restrictions would be much tougher on sports betting and advertisement than the ones on a state-level.
Lawmakers Propose Bill to Restrict Sports Betting Ads on a Federal Level
Senator Blumenthal and Rep Tonko are proposing the Supporting Affordability and Fairness with Every Bet Act; or SAFE Bet Act for short. These 2 lawmakers have for a long time been critics of the current sports betting model in the U.S.
Therefore, they want to change that with new rules and regulations. However, they are not just asking for stricter restrictions on sports gambling ads. They want to change the entire sports betting industry where states would have to report to the federal government.
Therefore, the SAFE Bet Act would require the states that have legal sports betting to go through an application process. In turn, the U.S. Attorney General would then have the power to grant approvals for a 3-year period.
Yesterday, during an ESPN interview with John Barr, Senator Blumenthal said, “we need a national standard” on gambling. He said he is not looking to “ban gambling.” Instead, he simply wants “to take back control over an industry that is out of bounds.”
On the other hand, other State Representatives and Senators do not agree with their method. A statement by Representative Dina Titus said that while the SAFE Bet Act has good intentions it is a “misguided approach”.
They seem to be under the impression that the sportsbook always wins. However, does a bookie always win? That is far from the truth as a sportsbook only facilitates sports betting and only makes money from the big.
Chris Cylke, the American Gaming Association said that the Safe Bet Act is a “slap in the face.” This is because they are discounting all of the work done by state legislators and gaming regulators to create the current framework.
What the Restrictions on Sports Betting Ads and the Sports Gambling if Bill Passes
The ‘Safe Bet Act” will not just be a restriction on Sports Betting Ads but on sports betting as whole. Here is what will likely happen if the bill by Senator Blumenthal and Representative Tonko were to pass.
- No gambling or sports betting Advertising during live sports broadcasts and between the hours of 8 a.m. and 10 p.m.
- Sportsbook will no longer be able to give out bonuses such as “bonus bets” and “no sweat bets”.
- Players will not be able to make over 5 deposits within a 24-hour period.
- A ban on college sports prop bets on a national lever rather than on a state-by-state basis.
- It will prohibit sportsbooks from using artificial intelligence in their sports betting software to monitor a player’s gambling habits. This is because sportsbooks use them to create specially made micro-bets for their customers.
- A ban on using a credit card to make a deposit in their sportsbook account
- Gambling companies will have to conduct “affordability checks” for individuals who wager more than $1,000 within a 24-hour timeframe.
Needless to say, if the Safe Bet Act passes it will have a significant impact on the current industry. However, before it can do that, it will have to overcome some serious opposition before it can become a law.
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