Legislation could set new standards for sports betting NBC Connecticut [Video]

New legislation is targeting the gambling industry, specifically sports betting, which has been growing at a fast rate since being made legal in many states, including Connecticut.

The SAFE Bet Act, introduced by U.S. Sen. Richard Blumenthal (D-CT) and U.S. Rep. Paul Tonko (NY-20), would set federal standards for sports betting when it comes to advertising, affordability and artificial intelligence.

“This industry is growing astronomically and so is the problem of addictive gambling,” Blumenthal said. “The gambling industry knows it, exploits it, and we need to take action to reign in the excesses and abuses before they destroy a lot more families and people.”

The gambling industry, he said, is expected to grow by 30% this year, up from $26 billion to $35 billion.

“This industry targets losers. It does so methodically and scientifically using algorithms to track who’s betting, what they’re betting on, whether they’re winning or losing,” Blumenthal …