Sports gambling ads have become so pervasive that it’s hard to watch a game without being bombarded by manipulative promotions that say stuff like "BET $5, GET $200 INSTANTLY"...
I became a recreational sports bettor in college through offshore books. I always felt like I was doing something extremely dangerous and so was very careful - probably in large part because of the societal stigma surrounding sports betting. I feel like I benefited from having instilled in me a greater fear of gambling dangers that I wouldn't have now if I just started gambling after seeing all these prominent sports talking heads discussions, social media influencer promotions, and constant TV advertisements.
Trying stricter regulations feels like a no-brainer before totally reverting to a federal ban.
At a minimum, we should match the intensity of regulations for other legal vices: - National min. age of 21 for any state that legalizes sports betting, matching drinking regulations that were set 40 years ago. - Restrict advertising to audiences where you can confidently report that >70% of which are adults >= 21 years old, similar to recreational marijuana advertisement regulations in states like CA. - More intense warnings should follow each ad, clearly emphasizing the risks of addiction and the likelihood of financial loss, similar to the mandatory disclosures in prescription drug ads.
Additionally, for the unique vice of sports gambling and it's associated societal dangers, there should be: 1. More intense restrictions on ads: a. Clearly disclose all stipulations. For example, language like ‘BET $5, GET $200’ should be accompanied by fine print explaining that the bonus bet can’t be withdrawn, and any winnings must be wagered multiple times before withdrawal. b. Transparent statistics of users' outcomes at specific sports book. Something like: "Y% of our customers who have accepted a bonus bet have successfully turned it into real cash in their bank account. The remaining (100-Y)% lose it all." 2. Regulations on sports book's social media accounts promoting individual bettors' winnings - i.e. Sports books shouldn't be able to promote a story about someone winning $100k on a $1 20-team parlay. 3. Roadblocks, at a minimum, on betting losses for vulnerable groups -- e.g. after a bettor has lost X% of their initial deposit/yearly salary/net worth/etc, the bettor's account should be restricted in some way unless they say to a real person on the phone: "YES, I AM AWARE OF HOW MUCH MONEY I'VE LOST. I WISH TO RISK LOSING MORE MONEY." 4. A requirement that all bets be placed with money deposited via debit card/check/cash. A ban on taking on any kind of debt (like using a credit card to deposit funds into betting account) to place a bet seems reasonable.