October 4, 2024
Back in June of this year we published a video with details on a federal sports betting bill being proposed here in America. The Supporting Affordability and Fairness with Every Bet Act, or as it has become know The SAFE Bet Act, is now getting some less than enthusiastic reactions from the likes of the NFL and NBA, who are concerned that the advertising restrictions put forth on the bill would cut into their profits.
The SAFE Bet Act would introduce several measures to limit sportsbook advertising, prohibiting it from 8 a.m. to 10 p.m. and during live sports events. It would also ban betting on individual college athletes and eliminates in-game wagering on both professional and college sports—two popular betting formats. Sources within the NFL and NBA anticipate a lengthy legislative journey for the bill, with possible amendments along the way.
A significant concern for the leagues with this new federal sports betting bill is how the advertising restrictions might affect sportsbook revenues. Over the past two weeks, sportsbooks spent $22.9 million on national TV ads during live NFL games, ranking eighth among all industries for airtime. This funding serves as a crucial revenue stream for the leagues, and a blanket ban could disrupt the financial landscape of gambling partnerships between sports organizations and betting companies.
An NBA source highlighted the league’s awareness of the SAFE Bet Act’s potential, noting that it is “at the starting point to a very lengthy process.” NBA Commissioner Adam Silver has consistently advocated for a unified federal approach to sports betting, criticizing the current patchwork of state regulations as a “hodgepodge” that complicates oversight.
Neither Major League Baseball nor the NHL has publicly addressed the proposed federal sports betting bill, while the NCAA has reiterated its support for a ban on prop bets concerning individual college athletes, emphasizing the importance of maintaining integrity in college sports.
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