NFL and NBA Concerned About SAFE Bet Act’s Sports Betting Restrictions
The NFL and NBA have raised concerns over the newly proposed SAFE Bet Act, a federal bill aimed at regulating sports betting.
NFL and NBA badges. Sports leagues concerned about new SAFE Bet Act.
LISTEN TO THIS ARTICLE:While the leagues are not opposed to the bill’s general aims, they are worried by provisions that would limit advertising and prohibit live betting.
Introduced by Rep. Paul Tonko (D-NY) and Sen. Richard Blumenthal (D-CT), the SAFE Bet Act proposes several restrictions. It seeks to ban sportsbook advertisements from 8 a.m. to 10 p.m. and during live sports events. Additionally, the bill aims to prohibit bets on individual college athletes and restrict in-game wagering, which has become increasingly popular among bettors.
Concerns over Lost Ad Revenue
The leagues are expecting the legislative process to take some time, which will provide opportunities to negotiate amendments. They are particularly concerned about the potential ad ban. In the past two weeks alone, sportsbooks have spent on marketing and TV advertisements approximately $22.9 million during NFL games, making them some of the top advertisers. As such, the leagues are worried that restrictions will impact their revenue and viewer engagement.
Another concern is the proposed prohibition of live betting. League officials and sportsbook operators argue that live betting has become a fundamental component of sports gambling. They worry that eliminating this option could drive away a significant number of bettors.
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NCAA Supports Ban on College Athlete Prop Bets
On the other hand, the NCAA has given its support to the bill’s provisions that would ban prop bets on individual college athletes. Currently, 18 of the 38 states with legal sports betting already have such bans in place. The NCAA has long called for nationwide regulations to ensure the integrity of games and to educate younger audiences about the potential risks associated with sports gambling.
At a recent board meeting, NBA Commissioner Adam Silver reiterated his support for a federal framework. Silver, who has been a supporter of legal sports betting for nearly a decade, argued that the current patchwork of state laws complicates oversight and called for a more unified regulatory approach.
Sen. Blumenthal emphasized that the SAFE Bet Act is not intended to ban gambling but to introduce safeguards that address the growing issue of gambling addiction. Lawmakers backing the bill have raised concerns about the rising number of problem gambling cases as more states legalize sports betting. They believe federal intervention is necessary to protect vulnerable groups, particularly young people, from the potential harms of gambling.
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