Last week in Washington, a bill dubbed SAFE Bet was introduced, aiming to establish federal control over the sports betting industry.
The bill proposes that local state regulations must align with the following federal guidelines:
- Players are limited to 5 deposits within a 24-hour period.
- Credit card deposits are prohibited.
- Operators must conduct additional financial checks for players depositing over $1,000 daily or $10,000 monthly.
- Players will be barred from further deposits and wagers if their monthly deposits exceed 30% of their income.
- The use of AI to track player behavior and create personalized offers based on this data is prohibited.
- Advertising restrictions include:
- No gambling ads from 8:00 AM to 10:00 PM or during sports broadcasts.
- Ban on using enticing language like “bonus” or “freebet” in ads.
- Prohibition of gambling promotion through influencers.
The American Gaming Association’s vice president called the bill “a slap in the face to state legislatures and regulators.”
Similarly, a representative from the trade association iDEA Growth suggested that federal authorities would be better off combating offshore operators rather than imposing what they view as unnecessary restrictions on licensed operators.
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