US lawmakers prepare new restrictions for the country's gambling market

New York Congressman Paul Tonko and Connecticut Senator Richard Blumenthal have proposed a legislation aimed at strengthening regulations within the betting and gambling sector. The proposed bill seeks to impose new bans and restrictions in the industry to enhance safety.

The recently announced safe gambling and betting bill could significantly influence the entire gambling landscape in the United States. According to the authors, states must comply with established federal standards, which will be clearly defined.

Additionally, states looking to maintain gambling activities will need to secure approval from the U.S. Attorney General, with that approval valid for a three-year term. However, it remains unclear whether the 38 states and Washington, D.C., that currently allow gambling will need to go through a re-licensing process.

The legislators emphasized that the bill does not seek to outlaw betting. Nevertheless, Blumenthal stated that federal oversight is essential to address what he perceives as industry overreach.

Another significant reform will impact advertising and promotional practices. The bill proposes a ban on betting advertisements on television from 8 a.m. to 10 p.m. and during live sports events, as well as the removal of ads that encourage users to place bets or create accounts.

Tonko remarked that celebrities should not be instructing people on betting through commercials, while Blumenthal criticized bookmakers for allegedly targeting vulnerable individuals through their advertising and bonus strategies. “Let's be clear: The gambling industry is systematic in targeting those who are likely to lose because that’s where the profit lies,” he stated.

Moreover, officials are advocating for the establishment of a national self-exclusion list, to be developed under the Gambling Security Act. Similar initiatives are already in place in Australia (BetStop) and the UK (Gamstop).

A key aspect of the proposed legislation includes affordability measures. The bill specifies a limit of five deposits within a 24-hour period, prohibits the use of credit cards for funding, and mandates operators to perform affordability assessments for players who wager over $1,000 in a single day or $10,000 over a 30-day span.