Two House members have proposed legislation to add federal regulation to sports betting. Senator Richard Blumenthal (D-Conn.) and Representative Paul Tonko (D-N.Y.) have publicly supported the proposal calling for increased regulation of sports betting, known as the Support Affordable and Fair Gaming for All Act (SAFE Gambling Act).
The bill has been added to Tonko’s list of proposed legislation on the U.S. Congressional website. HR9590Its purpose is to “establish minimum federal standards regarding sports betting and to accomplish other purposes.”
If the bill becomes U.S. law, the 38 states where gambling is legal would have to go through a new regulatory process with the Department of Justice. The bill would also add a renewal period during which the U.S. Attorney General would approve or deny applications. Approval would last for three years.
“We’re not trying to make gambling illegal,” Senator Blumenthal said. “We’re trying to stop the promotions, enticements and bonus credits that target losers. Let’s be clear: the gambling industry systematically and relentlessly targets losers because that’s where the money is. Losers are losing for the gambling industry’s profits.”
Lawmakers propose new gambling regulations
“I am very concerned about what we have seen since the rapid legalization and promotion of sports betting,” Tonko said during a press conference related to the SAFE Bet Act. “We need to address addiction of all kinds, or we are failing in our responsibility.”
If passed, the SAFE Bet Act would ban advertising between the hours of 8 a.m. and 10 p.m., effectively creating a turning point for promotional betting that has been common before, during and after events.
“For over a decade, gambling has been recognized as an addictive product and gambling disorder has been compared to the use of heroin, opioids, tobacco, alcohol and cocaine as an addiction,” Tonko continued.
The bill, like the UK’s latest efforts to curb gambling addiction, would also cap bets, limit the number of deposit transactions a customer can make within 24 hours to five, ban gambling operators from linking users’ credit cards to accept deposits from them, and require “ability checks” within 24 hours for any bets of more than $1,000.
“We’re not banning gambling; we’re banning the exploitation and abuse of people who want to gamble legally,” Blumenthal concluded.
image: Congressman Paul Tonko
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