Sports gambling has exploded across the United States over the past six years and, in response, two lawmakers have introduced legislation that would implement federal regulations on the practice.
Rep. Paul Tonko D-N.Y. and Sen. Richard Blumenthal, D-Conn., on Thursday introduced the Supporting Affordability and Fairness with Every Bet, or the SAFE Bet Act, which seeks to ensure sports betting operators comply with minimum federal standards and tries to address the public health implications resulting from the legalization of sports betting.
“This relationship between the gambling industry and sports has reached intolerably dangerous levels, and it’s well past time for Congress to just to step up and make a difference,” Tonko said in a press conference on Thursday.
The Supreme Court struck down the federal ban on sports betting in 2018. Six years later, sports betting has exploded across the United States, as 38 states have legalized it. The industry posted a record $11 billion in 2023, marking a 44% increase over the previous year, according to the American Gaming Association.
It’s also brought billions in new revenue to states as they take a cut of the pie through taxes.
The rapid growth has led to operators fronting big money to acquire customers through advertisements, promotions and enticements.
“Now every single solitary moment of every sporting event across the globe has become a betting opportunity, whether you’re scrolling on social media, driving down the highway past…
