Senator Richard Blumenthal (D-Conn.) and Representative Paul Tonko (D-N.Y.) introduced a bill last month, the SAFE Bet Act, which would ban online sports book advertising during live sporting events and prohibit offers intended to induce gambling, including boosted odds and free “bonus” bets. It would also place limits on user deposits within a 24-hour period, ban the use of artificial intelligence to individualize promotions to consumers and require sports books to conduct “affordability checks” on their customers before accepting large wagers.

Since a Supreme Court ruling in 2018, legal sports betting has taken off in the United States. Thirty-eight states have now passed laws to allow gambling on sports while another six are considering it. More than two-thirds of American adults (roughly 164 million) now reside in a legal sports-betting market.

The American Gaming Association earlier this year released a report on the industry’s financial performance for 2023. For the third consecutive year, the commercial gaming industry has set a new revenue record. Total revenue from casino games, sports betting and iGaming reached $66.52 billion, a 10% increase over the previous record set in 2022.

The sports betting frenzy is fueled by partnering ventures, which include celebrity influencers, sponsorships in professional sports and sporting events, as well as television networks, radio and online media outlets.

Marketing campaigns are ubiquitous. They blanket the airwaves and social media sites. Commercials often flaunt “risk-free” bets, with former and even present-day athletes promoting gambling companies.

Gambling has been facilitated by online apps. Practically all betting nowadays can be done from a person’s smartphone.

https://www.forbes.com/sites/joshuacohen/2024/10/12/democrats-blumenthal-and-tonko-introduce-new-bill-to-curb-gambling-advertising/