US Rep. Tonko proposes SAFE Act to regulate sports betting

US Rep. Tonko proposes SAFE Act to regulate sports betting

US Rep. Tonko proposes SAFE Act to regulate sports betting

The sports betting industry in the US would be greatly impacted by a measure that US Representative Paul Tonko intends to introduce.

The goal of the proposed law, dubbed the Supporting Affordability and Fairness with Every Bet (SAFE) Act, is to provide federal regulation over the use of artificial intelligence in sports betting, affordability, and advertising.

The SAFE Act’s mandate that states seek federal permission before allowing legal sports betting is one of its main features. States would have to do this by submitting an application to the US Attorney General and proving they comply with a number of the bill’s provisions. The proposed legislation’s framework does not include an application cost, and applications would be valid for three years.

Apart from the federal clearance procedure, the SAFE Act has many additional significant provisions. It would limit the time of sports betting advertisements on television and outlaw phrases like “bonus” and “no sweat.” Additionally, the law would restrict how many deposits a bettor might put into their betting account in a given day and mandate that bookmakers verify that big bets are affordable before accepting them.

The SAFE Act would also forbid using artificial intelligence to monitor player behavior and provide customized advertising. Additionally, it would outlaw specific kinds of prop bets on collegiate and amateur athletes, with limited exceptions made for occasions like the Olympics, and ban betting on amateur sports.

With provisions targeting substance addiction and problem gambling, Rep. Tonko’s bill is announced as a public health endeavor. It would permit data collection on the effects of sports betting on mental health and substance misuse, as well as the establishment of a national self-exclusion list for problem gamblers.

All things considered, the SAFE Act is a thorough attempt to control the quickly expanding sports betting market in the US. Should it be approved, it would fundamentally change how sports betting is managed and controlled on both a state and federal level.

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