High Stakes, Low Barriers: The Role of Technology and Regulation in the Rise of Online Sports Gambling
In the years since the Supreme Court struck down federal law prohibiting sports gambling, the industry has seen a meteoric rise in popularity. States around the country have implemented laws allowing sportsbooks to conduct sports gambling operations, receiving new tax revenue in return.
While these laws have allowed sportsbooks and states to make billions of dollars, users of these sportsbooks are taking massive losses. Sportsbooks use several technological features in their apps and advertising to ensure profits are maximized. This often leaves the most vulnerable users, such as problem gamblers and minors, at a high risk of serious financial and mental health issues. Absent further regulation to protect at-risk groups, the resultant harms will far outweigh sports betting’s benefits.
This Note discusses possible solutions to this growing problem, including the recently proposed SAFE Bet Act, a federal bill designed to address public health issues stemming from the legalization of sports gambling. Passage of the Act would establish federal standards for advertising practices, artificial intelligence usage, and affordability requirements—all of which are necessary to make sports betting safer for all users
Author: Conner Martin
Volume 26, Issue 4