Rep. Paul Tonko emphasizes the urgent need for regulation, stating that the gambling industry's relationship with sports has 'reached intolerably dangerous levels' and requires Congressional action.
The proposed Bet Act seeks to impose restrictions such as prohibiting ads during live sports, banning new bettor bonuses, and regulating bet limits, addressing public health concerns.
Tonko notes the pervasive nature of sports betting advertising, highlighting that everywhere, from social media to billboards, offers continuous promotions, prompting the need for reform.
The Bet Act proposes measures including banning prop bets on college sports and establishing a federal self-exclusion list to enhance accountability in the sports betting sector.
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