US Rep. Tonko Plans Bill to Regulate Sports Betting Advertising and Funding

US Representative Paul Tonko revealed his intention to file a bill concerning sports betting regulations. This move, announced on 19th March, aims to address concerns surrounding sports betting advertising and funding mechanisms. Tonko's proposal encompasses several key areas, including advertising limitations, funding restrictions, and federal oversight requirements.

The cornerstone of Tonko's proposal is the requirement for states to obtain federal approval before offering legal sports betting. This measure seeks to establish a standardized regulatory framework across jurisdictions. States would need to apply to the Department of Justice, demonstrating compliance with specified criteria to be eligible for approval.

Tonko's bill targets advertising practices in the sports betting industry. It seeks to curtail the use of certain phrases in promotions and restrict advertising during live sporting events. Additionally, the proposal includes measures to limit the frequency of bet funding transactions and implement affordability checks for large wagers.

While Tonko's initiative addresses various concerns, questions remain regarding its legality and potential impact. Critics argue that such federal oversight may infringe upon states' rights, particularly considering previous Supreme Court rulings. Nevertheless, Tonko aims to position the bill as a public-health initiative, emphasizing measures to address problem gambling and associated challenges.

Tonko's proposed legislation reflects ongoing efforts to regulate the burgeoning sports betting industry in the United States. As discussions continue, stakeholders anticipate further developments in shaping the regulatory landscape and promoting responsible gaming practices.