The US Senate Committee has scheduled an important session titled “America’s High-Stakes Bet on Legalized Sports Gambling” to take place on December 17 at 10 am.
This session will delve into the current state of the sports betting industry. Leading the discussion will be Committee Chair Sen. Dick Durbin alongside Sen. Richard Blumenthal, who is a co-author of the SAFE Bet Act.
The SAFE Bet Act is designed to tackle public health issues linked to sports gambling and aims to propose stricter measures such as limiting advertisements and enforcing player protection practices, including deposit limits.
AGA Opposes the SAFE Bet Act
The American Gaming Association (AGA) opposes the SAFE Bet Act, contending that the existing regulations are sufficient to safeguard consumers while generating significant state tax revenue.
Chris Cylke, the AGA’s senior vice president of government relations, expressed in September:
“Regulated sports betting operators today are not only generating billions in state taxes across the U.S., but they are also protecting consumers from unsafe neighborhood bookies and illegal offshore websites. In collaboration with over 5,000 state and tribal regulators and other stakeholders, they ensure a commitment to responsible gambling practices and positive play. After six years of legal sports betting, introducing strict federal prohibitions undermines the efforts of state legislatures and gaming regulators who have invested extensive time and resources in crafting thoughtful regulatory frameworks tailored to their jurisdictions, continuously adapting as their markets evolve.”
Additionally, Senators Mike Lee and Peter Welch have proposed modifications concerning competition and call for investigations into DraftKings and FanDuel. The future trajectory of sports betting in the US remains uncertain.