Sports gambling bill targets incessant ads, signup bonuses [Video]

With the exponential growth of sports gambling, some federal lawmakers say gamblers are being victimized by the tactics that gaming companies use to lure and maintain customers. They say casual gamblers are becoming problem gamblers as a result, often winding up in debt or bankruptcy.

The SAFE Bet Act, proposed by Sen. Richard Blumenthal (D-CT) and Rep. Paul Tonko (D-NY), would try to change that by limiting advertising and the use of algorithms luring losing gamblers into deeper debt.

“This industry targets (gaming) losers,” says Blumenthal. “It does it methodically and scientifically, using algorithms to track who’s betting, what they’re betting on, whether they’re winning or losing, what kind of promotions, credit, bonuses to drive at them.”

The bill would also curtail the use of signup bonuses aimed at new and existing gamblers, such as offers of “free” or “bonus” bets.

Valerie Tibbets runs the helpline at the Connecticut Council …