Going after sports betting advertisements has been the theme for many states during their respective legislative sessions. The effort in New Jersey is similar, as the responsible gaming campaign has been widespread in the sports betting industry.
Limiting the Betting Advertisements Has Been the Primary Focus
In the month of February, the monthly casino and sports betting handle increased by approximately 10.4 percent from January’s report. On Monday, a New Jersey General Assembly committee swiftly moved towards finding a resolution in the Garden State.
The initiative is to “condemn the over-proliferation of pro-gambling advertising’ in the jurisdiction. Assembly Resolution 168. This measure was passed without any discussion as the Garden State, and the rest of the industry are set on combating problem gambling.
Committee Chairman Ralph Caputo, “To me, these enticements aren’t doing anything to help the people of New Jersey.” He believes that the overflow of sports betting ads is a desperate measure to generate more revenue in the state.
Other States Are Doing the Same
Two huge states that have immense potential joined the industry to start the new year. It’s likely that Massachusetts and Ohio will affect smaller neighboring markets such as Indiana, New Hampshire, and Rhode Island.
Both the Buckeye State and the Bay State have changed the game as they created new standards for the marketing and advertising sector. For violating the laws or targeting the Under-21 demographic, casinos and sportsbooks have been fined heavily.
In some states, like Pennsylvania, regulators are concentrating on how the word “risk fee” is used. Leagues such as the NBA have asked their sportsbook partners to refrain from using the term.
Despite stakeholder claims that banning advertising isn’t the answer, lawmakers and regulators across the country are insisting that the industry curb its advertising spending. The resolution from the Garden State committee urges the bookmakers to practice these restraints and good judgment moving forward. New Jersey is a prominent market in the industry due to its involvement to move the sector to the post-PASPA era.
The Other Issues Concerning These Advertisements
During the legislative sessions across the United States, states like North Carolina and Georgia look to join the sports betting industry. With new states trying to launch quickly, many jurisdictions have been dealt with fines.
Because the operators have so much capital, do the fines really matter? Sportsbooks often keep their licenses and don’t face severe penalties like losing their licenses. Even major markets across the world, including the United Kingdom, have geared away from pushing harsher penalties.
The sports betting industry draws comparisons to the alcohol and tobacco industries, but a plethora of lawmakers are weary of taking the same approach moving forward. At the moment, monumental changes don’t seem to be imminent, but the pace could pick up once the dice roll on the casino markets.
Lobbyists for commercial casinos in New York have spent and made a lot of money in an effort to get key support from lawmakers and other politicians. Other markets may follow suit.