US Lawmakers Introduce a Bill Laws & Regulations

US Lawmakers Introduce a Bill for Federal Sports Betting

By Lisa Spencer Senior Editor Updated: 18 October 2024

Lisa Spencer Senior Editor

As a Senior Editor at Betting.US, Lisa Spencer is a valuable member of our expert team. With a Master’s degree in Applied Mathematics, Lisa is adept in gambling theory and analyzing odds. She contributes by writing online sportsbook reviews and finding competitive markets to help our readers make an informed choice.

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Senator Richard Blumenthal (D-CT) and Representative Paul Tonko (D-NY) are two lawmakers with some very strong views on the sports betting industry. If they get their way, new regulations will give far more power to federal regulators over advertising, affordability, and artificial intelligence.

The landmark legislation, the Supporting Affordability and Fairness With Every Bet (SAFE Bet) Act, would create nationwide consumer protections and standards for the mobile sports gambling industry. For the first time, the bill would address the public health implications resulting from widespread sports betting legislation in the US. If passed, it would require states offering sports betting to meet minimum standards in the categories of advertising, affordability, and Artificial Intelligence. The aim is to create a safer, less addictive product.

Congressman Tonko had this to say:

Since their inception, sports and sporting events have been a chance for family, friends, and strangers to gather together in celebration of beloved teams and athletes in a great American pastime. But now, every single moment of every sporting event across the globe has become a betting opportunity. That’s resulted in a frightening rise in gambling disorder, which has in turn enacted a horrific toll on individuals, many of whom have lost their home, job, marriage, and their lives. We have a duty to protect people and their families from suffering the tremendous harm related to gambling addiction. Our SAFE Bet Act gets the job done and gives sports back to the American people.

What Does the “SAFE Bet Act” Cover?

This attempt to federalize laws that govern sports betting focuses on three areas: advertising, affordability, and Artificial Intelligence. In terms of advertising, the SAFE Bet act would prohibit operators from running advertisements between the hours of 8 AM and 10 PM and during live sporting events. It would also put an end to offering customers incentives like “bonus bets,” “sweat bets,” and similar.

Regarding affordability, the legislation would prevent sports books from accepting more than five deposits from a single customer with a 24-hour window. Credit card deposits would be prohibited, and it would introduce “affordability checks” on customers who want to wager more than $1,000 within 24 hours.

The act would prohibit AI tracking and prevent gambling companies from using it to create tailor-made “microbets” for individual customers. Prop betting would also be banned nationally, and a nationwide “Self-Exclusion List” would be made. Gambling companies would have to check this list before accepting wagers.

What is the Reasoning Behind This New Legislation?

Tonko said in a press conference that the relationship between the gambling industry and sports has reached intolerably dangerous levels. He feels that it’s time for Congress to step up and make a difference. In 2018, the Supreme Court struck down the national ban on sports betting, after which it became legal in 38 states plus Washington, D.C. The growth of sports betting has been monumental, but so has the rise in addiction-related issues, and that is the main issue the bill is set to impact.