Massachusetts Gaming Commission chair Jordan Maynard raises concerns about the rapid expansion of the US gambling industry, calling for nationwide regulations to protect consumers.
Key Takeaways:
- Gambling sector growth outpaces regulatory efforts
- State-level oversight deemed insufficient for current market
- National standards needed for exclusion lists and advertising
Regulatory Challenges in a Booming Market
The US gambling landscape has undergone a significant transformation since 2018, with 37 states legalizing sports betting. This rapid expansion has created a regulatory patchwork that Jordan Maynard, chair of the Massachusetts Gaming Commission, believes is no longer adequate.
In a recent interview with The Guardian, Maynard expressed concern that the industry’s growth has outpaced discussions on player protection and public health. He emphasized the need for proper oversight to prevent gambling harm, especially as operators focus on maximizing profits.
The Case for National Standards
Maynard points to several issues that highlight the need for federal regulations:
1. Cross-border exclusion list loopholes
2. Excessive betting advertisements targeting youth
3. Normalization of sports wagering among teenagers and college students
4. Persistent black market operators offering larger bonuses and lax requirements
To address these challenges, Maynard advocates for a nationwide exclusion system and coordinated advertising rules. He acknowledges the difficulty in implementing such measures but maintains that federal oversight is crucial for consumer safety.
Balancing Innovation and Responsibility
While some companies have begun producing responsible gambling content, Maynard urges caution when adopting new technologies. He suggests that AI tools used to identify high-value users could also be employed to flag dangerous patterns and prevent risky behaviors.
> “What we’re going to do is make sure that those who seek to benefit economically from this industry are held to high standards.”
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> Jordan Maynard, chair of the Massachusetts Gaming Commission
The Role of Regulators in a Growing Industry
Despite the challenges, Maynard remains committed to the role regulators play in ensuring safe gambling practices. He emphasizes the importance of maintaining gambling as a hobby while installing necessary safeguards to prevent potential harm.
> “I don’t want the legal market to race to be the illegal market. I want the illegal market to either not exist, or if it does exist, it’s in a highly competitive space with what’s regulated.”
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> Jordan Maynard, chair of the Massachusetts Gaming Commission
As the gambling industry continues to evolve, Maynard’s call for nationwide regulations underscores the need for a balanced approach that protects consumers while allowing for responsible growth in the sector.
