John Barr, ESPN
Two of the more vocal critics of the sports betting industry on Capitol Hill outlined legislation Thursday, which if passed into law would put into place sweeping new federal regulations on gambling companies, including requiring them to set limits on what amount sports bettors wager and how often they can place bets.
The Supporting Affordability and Fairness with Every Bet Act — or SAFE Bet Act — proposed by Senator Richard Blumenthal (D-CT) and Representative Paul Tonko (D-NY) would establish a nationwide ban on sports betting, requiring the 38 states where sports wagering has already been legalized to go through a new application process with the U.S. Justice Department. The U.S. Attorney General would then approve or reject applications, with approvals only lasting for a three-year period.
“State regulation is faint-hearted and half-baked. That’s why we need a national standard,” Blumenthal said. “Not to ban gambling but simply to take back control over an industry that is out of bounds.”
Tonko added: “We need to address addictions of all kinds. If not, we’re failing in our responsibilities.”
Lobbyists for the gambling industry were quick to point out Thursday that more than 5,000 state and tribal regulators have already come up with extensive industry controls.
“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,” said Chris Cylke, the American Gaming Association’s senior vice president of government relations.
The attempt to federalize laws that govern sports betting is focused on three areas: advertising, affordability and artificial intelligence.
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