financetom
News
financetom
/
News
/
The U.S. gambling industry bans marketing partnerships with colleges as sports betting flourishes
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
The U.S. gambling industry bans marketing partnerships with colleges as sports betting flourishes
Jan 16, 2024 11:09 PM
  U.S. Gambling Industry Adopts New Responsible Marketing Code
The American Gaming Association (AGA) has announced a new responsible marketing code for the gambling industry, aiming to keep pace with the rapidly growing legal sports betting sector and address concerns raised by regulators and addiction treatment experts.

  Key Changes in the Code:

  Prohibition of sports books partnering with colleges to promote sports wagering.Ban on payments to college and amateur athletes for using their name, image, or likeness.Elimination of the terms "free" or "risk-free" to describe promotional bets.Requirement that anyone depicted in sports betting advertising be at least 21 years old.Restriction of advertising to media where at least 73.6 percent of the audience is reasonably expected to be 21 or older.

  Industry Response:

  AGA President and CEO Bill Miller emphasized the importance of responsible advertising and consumer protection, acknowledging that the updated code addresses areas where the industry has faced criticism. He also stated the association's commitment to proactively review and update the marketing code annually.

  Praise from Problem Gambling Experts:

  Keith Whyte, Executive Director of the National Council on Problem Gambling, commended the new rules, highlighting their significance in protecting underage sports fans and addressing higher gambling problem rates among sports bettors.

  Individual State Actions:

  Several states have taken steps to regulate sports betting advertising and partnerships, including:

  New York State Gaming Commission's prohibition of advertisements to people under 21 and the use of "free" or "risk-free" language in promotions.Ohio's fines on sports books for using such terminology and sending direct mail advertisements to people younger than 21.Massachusetts and Pennsylvania's bans on the use of "free" or "risk-free" language.New Jersey's pending bill to prohibit sports book partnerships with public colleges or universities and condemn the over-proliferation of pro-gambling ads.

  Federal Legislative Efforts:

  U.S. Representative Paul Tonko (D-NY) has introduced a bill to prohibit online and digital sports betting advertising, citing concerns about the widespread reach of such advertisements and the potential harm to the American people.

  U.S. Senator Richard Blumenthal (D-CT) has sent letters to 66 colleges and universities seeking information on their efforts to prevent underage gambling among students, form partnerships with sports books, and address gambling addiction.

  The AGA's new responsible marketing code and the various state and federal actions reflect a growing focus on regulating and addressing potential risks associated with the expanding sports betting industry.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Loonie dips after weak inflation data
Loonie dips after weak inflation data
Nov 17, 2025
The Canadian dollar fell against most major currencies on Monday following the release of weaker-than-expected inflation data. Government data showed that Canadas annual inflation rate eased to 2.2% in October, as gasoline prices declined, food inflation slowed, and mortgage-interest costs dropped below 3%, according to official figures released Monday. The removal of the carbon tax on gasoline earlier this year...
Yen rebounds as stocks face selloff wave
Yen rebounds as stocks face selloff wave
Nov 18, 2025
The Japanese yen rose in Asian trading on Wednesday against a basket of major and minor currencies, as it attempted to recover from its nine-month low against the U.S. dollar. The currency is heading toward its first gain in four sessions, supported by increased buying at lower levels and renewed demand for safe-haven assets amid a global equities selloff. Following...
Sterling loses ground, Dollar climbs before Nvidia results
Sterling loses ground, Dollar climbs before Nvidia results
Nov 19, 2025
The British pound edged lower on Wednesday after UK inflation data for October came in broadly in line with expectations, reinforcing speculation that the Bank of England may cut interest rates next month, while the U.S. dollar strengthened ahead of Nvidias earnings and key American data releases. At the same time, the Japanese yen touched a ten-month low against the...
Who will ultimately foot the bill for the AI spending boom?
Who will ultimately foot the bill for the AI spending boom?
Nov 17, 2025
Theres an old saying in Washington: never believe anything until its been officially denied. And now that David Sacksdubbed the AI czar in the Trump administrationhas declared that there will be no federal bailout for AI, we can begin speculating about what that bailout might look like when it happens. It turns out that the chief financial officer of the...
Copyright 2023-2026 - www.financetom.com All Rights Reserved