States must protect consumers to earn the tax revenues promised by the legalization of sports betting. Without protections, bettors have no incentive to leave the black market and participate in the legitimate market. That is why SFC has created the Sports Bettors’ Bill of Rights.
Since unveiling the Bill of Rights earlier this week, thousands of American sports fans have shown their support by signing our petition below. Let’s break down the first, and most important right for all fans — the Right to Integrity and Transparency.
The first right allows the consumer to trust the process of placing a bet in the legalized marketplace — something that few bettors currently have. The operators, affiliates, and regulators of the sports betting industry must be transparent. Sports bettors deserve total and equal access to all information to be able to make an informed decision when placing a bet. To adhere to this standard, operators must disclose their licenses, the handle, payout amounts, and pertinent information used to calculate the odds.
Furthermore, athletes, coaches, and team affiliates, including employees must be transparent. All information known must be disclosed for fans to have equal access to place a fair bet. Operators must prohibit sports teams and employees the ability to place a bet on games, leagues or sports in which they are affiliated with to avoid the potential fixing of a game.
Lastly, systems must be outlined for a sports bettor to report suspicions of fraud and there must be resources available for problem gamblers. The information must be expressed clearly and readily available to act upon. Given the urgency of sports betting legalization in the states, the opportunity for the market to flourish depends on the inclusion of consumer protections listed in the Sports Bettors’ Bill of Rights. First and foremost, “The Right to Integrity and Transparency” must be enacted to safeguard bets placed on your favorite team.
Learn more by reading our white paper on sports betting.
If you agree and want to unlock your state’s fullest economic potential, sign the petition below and join the fight!