It’s that time of year again. The National Football League has begun another season of fun and excitement. In many states across the country, sports betting is legal for the first time in nearly 30 years. Many people are celebrating the chance to place bets legally. However, many have concerns about the newly minted sports gambling business. Experts say there are several concerns about player safety and security while players are gambling and betting online.
The Advent of Sports Gambling
In 1992, Congress passed the Professional and Amateur Sports Protection Act. This law banned single sports betting in the United States. For nearly 30 years, Nevada was the only place people could bet on single-game sports. While all was quiet for a while, innovation began to make inroads. First, many states started to legalize daily fantasy sports games. Then, states began challenging what they saw as the federal government’s overreach into their business. New Jersey legalized sports gambling and, then, sued the federal government. The state claimed because it wanted to allow sports gambling inside its borders, the government had no right to interfere. States have the right to regulate commerce within their borders. The U.S. Supreme Court agreed and struck down the law. Many states quickly passed laws to allow sports gambling There are now 18 states that have legalized it.
The Benefits of Sports Gambling
Experts estimate the market for sports gambling in the United States alone is more than $150 billion. Tax revenue from sports gambling will benefit many states. Several states have filtered down the tax revenue from sports gambling to local and county governments. States will be using the money to repair infrastructure, fund educational programs, and develop tourism areas.
Keeping Gamblers Safe
Researchers have been studying ways to keep gamblers safe. There are several ways online gaming companies can help keep gamblers safe from online threats. Online sportsbooks in Europe have been doing this for 15 years with more than 100 operators and platforms. With the NFL season starting, there are several suggestions sportsbooks can use so gamblers can keep the money they win.
Gambling is legal at 21. Sportsbooks have a hard time guaranteeing that they can verify a person’s age before he or she places a bet. In many countries, such as the United Kingdom, it has been really difficult to keep younger players from betting. Companies are putting software in place to make sure players verify their ages before they place that NFL bet.
Fraud through Bonus Abuse
Several online platforms have noted that criminals have used their new player online bonuses. They open accounts when the NFL season starts, use the platform’s “free” money, win, and close their accounts. In fact, the abuse of bonuses in the last four years has risen dramatically. It’s up nearly 300 percent. Companies are combatting bonus fraud on NFL sportsbooks. They are not allowing people to close their accounts before they have used their money to gamble.
Credit Card Fraud
During the NFL season, sportsbooks are trying to protect their customers from credit card fraud. Credit card fraud is up 39 percent for sports gambling sites. Many sportsbooks are requiring double authentication for deposits with a credit card to help keep their players safe.
While online gambling is legal in some states, it is not in others. Gambling platforms have to put procedures in place to make sure players are betting on NFL games legally. Many platforms use ZIP codes as a way to make sure players are gambling in their home states. Sportsbooks want to guarantee that when someone bets on the NFL, he or she doesn’t have a gambling problem. Only 2 percent of people who gamble have a gambling problem. However, sportsbooks want to protect these people from themselves. Many sportsbooks have self-exclusion rules on their sites. That way, gamblers in recovery can block the sites through self-exclusion.
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