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The American betting market is flexible and accessible since many states have legalised this risky entertainment. In most instances, users over 21 can reach online sportsbooks without obstacles. However, the growing rate of gambling-related disorders forced governments to launch special initiatives concerning betting ads, deposit limitations, and other issues affecting punters’ behaviours. Let’s explore the overall landscape and the suggested amendments to evaluate how the possible changes will affect the country’s iGaming market.

Current Betting Limitations in the US

The betting sector in the US offers users freedom and multiple opportunities. Sports wagering is now legal in Arizona, Colorado, Connecticut, Arkansas, Delaware, Illinois, Florida, Indiana, Iowa, Kentucky, Kansas, Maryland, Massachusetts, and many other states. Each region has the right to regulate the industry, and no federal American legislation is now available. The country boasts a large number of independent bookies that provide legal and trustworthy services to US residents.

Each operator sets deposit limitations, so the conditions depend on the betting platform. However, such a flexible approach creates challenges for the overall population’s well-being. Users often lose control when placing real-money sports bets, which leads to overspending and the development of compulsive disorders. According to reports from the National Council of Problem Gambling, up to 9 million of the country’s residents suffer from gambling-related problems. This issue has yet to be resolved, and strengthening control over the sector and implementing limitations for betting operators and customers is the only way to eliminate the risks.

Bill to Regulate Sports Betting and Gambling Activities

The American government is concerned about the harmful impact of online and online betting activities on risk enthusiasts. Therefore, the US Senate and the House of Representatives has recently introduced proposals on in-depth sector regulations and bringing appropriate limitations for bookmakers and punters. The amendments will concern restrictions on betting advertisements in daytime and during sports events, which aims to minimise the customers’ temptation to place bets at sports operators registered outside the UK. In addition, the authority is planning to launch nationwide financial checks and limitations to eliminate overspending among gambling lovers.

Suggested Betting Limits for US Residents

Even though the law is still under discussion, the need to regulate the market is relevant. The US Senate and the House of Representatives suggest limiting the number of deposits a user makes in online sportsbooks to five in twenty-four hours. Moreover, operators will be obliged to initiate financial assessments to identify whether bettors registering on their sites can afford to participate in this entertainment. It’s projected that the law will allow users to invest no more than 30% of their monthly income. The amendments will primarily touch on high rollers depositing over $1,000 per betting session.

When it comes to sports in Virginia, these regulations may significantly impact the growing sports betting industry. Since the legalization of online sports betting in 2020, Virginia has seen an influx of users placing bets on major sports events like football, basketball, and racing. The proposed legislation aims to ensure that sports betting remains a safe and responsible activity while continuing to offer ample opportunities for fans to engage with their favorite sports in the state.

How Betting Sites Will Implement Limits

KYC policies have long been integral to licensed and regulated digital bookmakers, as this mechanism helps in identifying underage users and problem bettors. The American government plans to strengthen verification procedures on in-country platforms. Operators will be required to check the users’ participation in NVSEP (National Voluntary Self-Exclusion Program), which has been recently launched in the US. Currently, the tool works in a limited number of states, but its impact in the country is constantly expanding. Betting companies will be obliged to ensure that their customers are not excluded at the moment. Moreover, if a user has participated in the program before, operators should take it into account and set appropriate limitations to avoid repeated disorders.

Market Reaction to Proposed Changes

Even though the new gambling bill hasn’t been implemented yet, it’s already possible to track reactions to future amendments. Undeniably, these changes are critical for the US betting market, which still lacks regulations. Flexible deposit limitations set independently by bookmakers result in significant overspending among Americans: specific research indicates that debts and bankruptcy levels have increased once the industry became legal in multiple states. Therefore, many responsible gambling advocates opt for implementing the new regulatory bill.

On the contrary, many betting operators are not satisfied with the proposed amendments, stating that the industry is on track and has enjoyed maximum profits since its introduction. The sector contributes comprehensive revenue to the country’s budget in the form of taxes, which is also essential for the country’s future development.

At the same time, offshore platforms will remain the point of concern: while US-based platforms will fall under the new bill, overseas operators won’t face significant limitations concerning maximum bet sizes. Such an approach can result in a decrease in demand for in-country bookmakers, while customers will select alternative sites.

The Final Word

The US betting market doesn’t have any wagering limits, excluding those set by online bookies. However, the federal government is likely to change it in the near future: the Senate and the House of Representatives have introduced a new bill in September 2024. The amendments concerning increased financial checks and higher consumer protection aim to make the market more controlled and safe for punters, while it’s still debated in the country.

Disclaimer:

Gamble responsibly. You must be 21 years old or older to gamble. If you or someone you know has a problem with gambling help is available at 1-800-GAMBLER.