Pro Leagues Pledge Responsible Betting Advertisements
Five years ago the U.S. The Supreme Court ruled that it would be up to each state to decide if they want to offer sports betting if they want to. Since then 30 states and the District of Columbia have decided to offer sports betting, which entails widespread sports betting advertisements.
However, with such fast changes and the amount of states allowing sports betting, people have started to become worried that the betting advertising for these sports betting websites are not being monitored properly.
Background of Sports Betting Advertisements
While, recently the NFL, NHL, NBA, WNBA, MLS, and NASCAR have teamed up with Fox and NBCUniversial to create what they call a voluntary alliance to regulate sports betting advertisement.
The original reason the leagues and media outlets formed the “voluntary alliance” was complaints that sports betting advertisements were targeting minors to get them addicted to sports betting.
This was a major issue, and the leagues and media outlets saw more issues that could arise and didn’t want the federal government to step in and regulate it themselves. This gets the leagues and media outlets in control as of now.
This is very important because both the leagues and media outlets benefit financially from having these betting advertisements and partnerships with sports betting companies like FanDuel, DraftKings, and many more.
These partnerships are extremely valuable for the leagues and media outlets and they will do almost anything to make sure they continue making money. If the federal or state governments step in it will surely hurt the pockets of all the leagues and media outlets.
Future
I believe that this is only a small step into the regulation of sports betting advisorting. If you look at how alcohol and beer advertising is regulated I expect to see similar rules for sports betting. The government is not going to want a bad image being protected by leagues that millions of minors watch and look up to.
This is a good step but at the end of the day the government will more than likely take over and create their own rules and regulations of the betting advertisements for these companies. This is still very early in the process and will have heavy chances in the near future.
Many more states are going to legalize sports betting soon and that will create an even more importance on the government stepping in regulating sports betting advertisements.
Overall, I believe this is necessary because many younger kids are interested in sports betting and sports in general and it isn’t going to change anytime soon.
Read more about the sports betting industry.
