Guarding the Betting Frenzy: A Proposal for Sportsbook Regulation

Sports betting has taken the nation by storm since the Supreme Court lifted the federal ban in 2018. Today, 38 states, including the District of Columbia, have legalized sports betting. However, the lack of federal regulation has raised concerns about addiction, ethics, and fairness. Enter Rep. Paul Tonko (D-NY) and Sen. Richard Blumenthal (D-CT), who are proposing the Supporting Affordability and Fairness with Every Bet Act to curb the problem. With addiction on the rise, can we afford to wait? The proposed legislation aims to combat sports betting addiction by restricting advertising, using artificial intelligence, and ensuring responsible gambling practices. Under the radar, sportsbooks would be banned from advertising during live events, and programming promoting bonuses or odds boosts would be prohibited. Additionally, the legislation caps the number of deposits a customer can make within 24 hours, disallows credit card deposits, and prohibits sportsbooks from using AI to track customers' habits. So, what if these guardrails are not effective? What happens when sportsbooks find ways to circumvent these regulations? The proposed legislation also requires a surgeon general's report on sports betting and authorizes the Substance Abuse and Mental Health Services Administration to collect data on the issue. But are the advocates for responsible gambling doing enough? The American Gaming Association is urging customers to set limits, educate themselves, and play legally. Yet, what if these measures are not enough to prevent addiction? What if the industry is not doing enough to promote responsible gambling?