Federal Sports Betting Standards: Banning Credit Cards and Enhancing Consumer Protection.
This Act establishes nationwide standards for sports betting, focusing on protecting citizens from excessive debt and addiction. Key changes include prohibiting the use of credit cards for deposits and requiring mandatory affordability checks for large deposits. Furthermore, federal self-exclusion mechanisms and strict restrictions on gambling advertising will be implemented.
Key points
Bans the use of credit cards for sports wagering deposits and mandates affordability checks for deposits exceeding $1,000 daily or $10,000 monthly.
Establishes a National Self-Exclusion List, allowing individuals to block themselves from placing wagers with all licensed operators nationwide.
Imposes strict advertising restrictions: banning broadcasts between 8:00 am and 10:00 pm and during live sporting events, and prohibiting terms like "bonus" or "no sweat."
Prohibits operators from using Artificial Intelligence to track players, create targeted promotions, or develop new gambling products like microbets.
Status:
Expired
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