A state lawmaker is considering a bill to change how Sports Betting Companies attract new customers.
A recently introduced bill by State Sen. Pete Harckham would require the state to oversee how companies use specific promotions to convince bettors to join their platforms.
Right now, many companies offer “risk-free” bets, wager-matching or boosted odds to first-time users that Harckham says are predatory.
Harckham, who chairs the Senate Alcoholism and Substance Abuse committee, says the state should be taking a harm-reduction approach to gambling similar to how the state regulates other potentially addictive things like alcohol or recreational marijuana.
Harckham still supports Sports Betting, mainly for the revenue it brings into the state but believes tighter regulations can prevent people from getting in too deep.
“Folks who don’t have full transparency and don’t understand what they’re getting into will very soon find themselves in financial hardship,” Harckham says.
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