Sports betting wins approval in Missouri
After facing different challenges and opposition, Missouri voters narrowly approved the ballot measure to legalize sports betting in the state.The debate on whether to...
The US Senate to hold a hearing on sports betting
The US Senate Committee scheduled a major hearing called “America’s High-Stakes Bet on Legalized Sports Gambling” for December 17 at 10 am.
The hearing will focus on the current state of the sports betting industry. Committee Chair Sen. Dick Durbin and Sen. Richard Blumenthal, co-author of the SAFE Bet Act, will lead the discussion.
The SAFE Bet Act aims to address public health concerns connected to sports betting and propose new, tighter regulations such as limits on advertisement and player protection practices with deposit limits.
AGA is against the SAFE Bet Act
The American Gaming Association stands in the opposition line of the SAFE Bet Act, arguing that current regulations already protect consumers and generate billions in state taxes.
Chris Cylke, the AGA senior vice president of government relations, said back in September:
“Today’s regulated sports wagering operators are contributing billions in state taxes across the U.S., protecting consumers from dangerous neighborhood bookies and illegal offshore websites, and working diligently with over 5,000 state and tribal regulators and other stakeholders to ensure a commitment to responsibility and positive play. 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.”
Moreover, Senators Mike Lee and Peter Welch suggest changes in the competition segments and investigations on DraftKings and FanDuel. The future of sports betting in the US remains unclear.
Sports betting revenues in New York make history with $2.32B
According to the data provided by the New York State Gaming Commission, the mobile sports betting market hit a record-breaking $2.3 billion in October bets.In October,...
