Sports betting laws may change as a result of a new measure that Senator Richard Blumenthal of Connecticut and Representative Paul Tonko of New York presented. The initiative aims to outlaw both sports betting commercials during games and wagering on collegiate athletes. The lawmakers want to address the negative impacts of the legal sports betting industry’s explosive growth after the Supreme Court’s 2018 ruling, according to a recent Yahoo! News report.
The legislators have voiced significant concerns about the rise in problem gambling. Tonko highlighted the disturbing increase in gambling-related issues, stating, “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.”
The proposed bill also includes restrictions on prop bets related to college and amateur athletes. Prop bets involve wagers on specific player performances, such as the number of rebounds or touchdowns. The bill aims to limit these types of bets to prevent further exploitation of young athletes.
Moreover, the legislation proposes stricter measures for deposit limits. Operators would face new regulations, including a cap on the number of deposits a player can make in 24 hours and mandatory checks to ensure players do not exceed specified deposit limits.