Georgia's sports betting efforts have hit another roadblock, coinciding with the resurgence of a college basketball betting scandal just ahead of the NCAA Tournament.
In a new feature from Gambling Insider titled 'Bingos & Busts', we review the significant gaming news from the past week. Positive developments earn a 'bingo', while negative ones receive a 'bust'.
Bingo: Bipartisan Support for Problem Gambling Funding
This Tuesday, U.S. Representatives Erin Houchin (R-Ind.), Andrea Salinas (D-Ore.), Mariannette Miller-Meeks (R-Iowa), and Troy Carter (D-La.) introduced the Providing Opportunities for Individuals in Need of Treatment and Support (POINTS) Act. This legislation aims to allocate $100 million to assist individuals struggling with gambling addiction.
The bill (H.R. 7875) proposes that one-third of the federal revenue generated from the 0.25% excise tax on all sports bets be designated for raising awareness about gambling issues and providing necessary treatment for affected individuals.
While its passage this session seems unlikely, it’s a crucial step toward addressing gambling addiction. Future sports betting or prediction market legislation should incorporate federal funding for these needs.
Bust: Jalen Smith Admits Guilt in College Basketball Scandal
As March Madness approaches, a federal investigation into a scheme to manipulate around 30 college basketball games has resurfaced, with one of the main conspirators pleading guilty in a Philadelphia court. This case involves nearly 40 Division I players across 17 teams and has reignited discussions about the need for stricter regulations on college sports betting.
In one instance, bettors wagered over $250,000 on a game between Northern Kentucky and Robert Morris, with the scheme ensuring NKU covered the first-half spread. Prosecutors allege that the scheme primarily targeted players from smaller D-I schools who were missing out on name-image-and-likeness earnings.
Bingo: Florida Legislature Rejects Decoupling Again
Although not yet official, reports from Tallahassee suggest that Florida lawmakers will conclude the legislative session without approving a bill that would allow 1S/T Racing, owner of Gulfstream Park, to offer slot machines independent of horse racing. This marks the second consecutive year that Florida horsemen have successfully opposed this bill, which could have severely impacted thoroughbred racing in the state and nationwide.
Florida’s legislative session officially wraps up at midnight this Friday.
Bust: McKay Coppins and The Atlantic Miss the Mark
Social media buzzed on Thursday following McKay Coppins’ article about his experience in the gambling world. The political commentator received $10,000 from his employers to place bets on games, aiming to explore the industry's growth and its societal effects. However, the piece offered little new insight, reiterating previously covered topics in a dull manner.
While gambling is often critiqued, mainstream media tends to recycle the same narratives.
Bust: Georgia Lags Behind in Sports Betting Legalization
With Missouri now having legalized sports betting, Georgia has become emblematic of states struggling to enact similar legislation. Last Friday, the Georgia House of Representatives decisively rejected a proposal that would have allowed voters to decide on the legalization of sports betting. Even if it had passed, Senate approval would still have been necessary.