Massachusetts Regulator Says US Gambling Industry Is A "Highway Without Speed Limits"
Continuing the analogy, he added that, as regulators, “we’re not going to prevent every crash that could happen, right? But what we’re going to do is make sure that people are educated in what they’re doing; that they’re trained up to a certain standard before they ever do it; make sure that those who seek to benefit economically from this industry are held to high standards.”
He commented that national exclusion lists, such as BetStop in Australia, should be implemented at the federal level. Advertising rules should also be implemented nationwide to protect users.
Massachusetts attempts to control gambling
Massachusetts introduced new rules related to gambling advertising in 2023, which include a ban on ads seen to be targeted at minors or problem gamblers, promotion of specific bets, and misleading terminology such as “free bet” when a customer must first use their own funds.
Massachusetts Regulator Says US Gambling Industry Is A "Highway Without Speed Limits", a ban on prop and in-play bets, a daily wagering cap of $1,000, and a range of other measures to protect residents from the risks of problem gambling. Massachusetts Regulator Says US Gambling Industry Is A "Highway Without Speed Limits"“They were worried about having the conversation in public,” reflected Maynard. “My job is not to increase profits for the operators. That’s not my job. My job is to balance the equities and to cure any inequities. And so I didn’t take it personally.”
Massachusetts Regulator Says US Gambling Industry Is A "Highway Without Speed Limits". Under his stewardship, the regulator has fined licensed operators $195,000 over noncompliance with various rules regarding advertising, and accepting bets on certain markets, such as college and Russian sports.Unregulated markets used as the boogeyman
The regulator has also issued various cease-and-desist letters to unregulated betting companies. In the interview, Maynard commented that sportsbooks often cite increased regulation as a risk of turning users towards unlicensed operators.
Massachusetts Regulator Says US Gambling Industry Is A "Highway Without Speed Limits" Massachusetts Regulator Says US Gambling Industry Is A "Highway Without Speed Limits" could have generated 2 or 3 times that given national figures put the unregulated industry at $67 billion, which accounts for 74% of the entire gambling market. Massachusetts Regulator Says US Gambling Industry Is A "Highway Without Speed Limits"
Adam is an experienced writer with years of experience in the gambling industry. He has worked as a content writer and editor for five years on sites such as Oddschecker, CoinTelegraph and Gambling Industry News, bringing excellent knowledge of the world of sports betting and online gambling. Adam focuses on emerging stories in the ever changing landscape of betting in the US. Read the latest on prediction markets, changing legislation, and sweepstakes.
