The SAFE Bet Act has been reintroduced with the express intention of implementing sports betting guardrails and policies that will apply to all sportsbooks nationwide.
Federal Intervention
The Supporting Affordability & Fairness with Every Bet Act, or SAFE Bet Act, was proposed for the second straight year by its sponsors, Representative Paul Tonko and Senator Richard Blumenthal. The pair of lawmakers don’t believe the current protections instituted by state regulatory bodies go far enough in safeguarding against problem gambling and responsible protocols for sportsbooks.
Holding a press conference earlier this week with the US Capitol as the backdrop, the legislators believe it is the ideal time to announce this bill with March Madness looming. “In exactly one week, Americans will be placing bets and likely losing those bets made on their favorite teams,” Tonko said. “We are not here because we want to stop the industry from breaking [revenue] records, nor are we here to prevent Americans from wagering on sports should they choose to. We’re here today because the government, at every level, has failed to pay attention to or understand the impact of gambling-related harms.”
A Safer Betting Future?
The crux of the bill features several key components, including:
- Restricting more than five deposits in a 24-hour period.
- Banning college player props.
- Eliminating the use of artificial intelligence to track a player’s gambling habits.
- Tailoring promotions that would appeal to them based on their history.
Prohibitions on gambling advertising based on times of the day as well as eliminating the terms “bonus,” “risk-free” and “no-sweat” from those ads are also part of the SAFE Bet Act bill. An addition to this newest iteration of the SAFE Bet Act would mandate that states work with the federal government to crack down on unlicensed sportsbooks operating in their jurisdictions.
Industry Blowback
The SAFE Bet Act was taken as a personal affront by many state regulatory agencies and lawmakers who crafted the prevailing sports betting rules and instituted guardrails against problem gambling. Many, if not all, legislated that a certain percentage of the profits be directed to responsible gambling resources.
Federal intervention in the sports betting industry has been construed by many as usurping states’ control and governance while also being considered a case of overkill in adding to the guardrails that states have already been implemented.
The American Gaming Association issued the following after the Safe Bet Act was reintroduced in September:
“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 and have continued to iterate as their marketplaces evolve.”
U.S. Representative Dina Titus, D-Nevada, whose district includes the major casino resorts on the Las Vegas Strip, was not shy about sharing her opinion on the bill. “The SAFE Bet Act reinforces the outdated and unwarranted prejudice against gaming, a legal industry which provides good-paying jobs and tax dollars to communities across the United States,” Titus said. “While the SAFE Bet Act is perhaps well-intentioned, preempting state gaming regulators by outlawing most forms of advertising and restricting the types and methods by which customers can place bets is a misguided approach,” she added.
