SAFE Bet Act Aims to Upend US Sports Betting
Senator Richard Blumenthal (D-CT) and Representative Paul Tonko (D-NY) proposed the SAFE Bet Act in order to curb the alarming rise of problem gambling. The pair believe the federal government should regulate the industry, taking power away from the states. This would create one universal set of regulations.
“This relationship between the gambling industry and sports has reached intolerably dangerous levels,” Rep. Tonko said. “We need a national standard — not to ban gambling — but simply to take back control over an industry that is out of bounds.”
Aside from shifting regulatory power away from the states, the bill would create far stricter rules regarding how sportsbooks advertise and what kinds of bets can be offered.
AGA Calls Bill a “Slap in the Face”
The AGA did not take long to respond to the SAFE Bet Act. The group, which helps support the sports betting industry across the US, argues that the proposed changes would be unfair to the states that have worked hard to form their regulations.
“Six years into legal sports betting, introducing heavy-handed federal prohibitions is a slap in the face to state legislatures and gaming regulators who have dedicated countless time and resources to developing thoughtful frameworks unique to their jurisdictions.”
The group has promised to fight the bill, using its powerful lobbying arm to prevent it from becoming law.
The Bill's Future Remains Uncertain
While many legislators believe that something must be wrong with the rise in problem gambling, the SAFE Bet Act is far behind expectations. That could scare off some legislators who support changes, leading to the bill's failure.
Another hurdle will be the considerable resources of the AGA and the sports betting industry. They have a lot of sway in Washington, D.C., and will have no problem forming strong opposition to the legislature.
There is a lot of momentum for increased industry regulations, but the SAFE Bet Act remains unlikely to become law. However, it could mark the first step towards reigning in the growing industry.
