Jordan Maynard, chair of the Massachusetts Gaming Commission (MGC), has commented that the gambling industry is out of control and calls for more nationwide regulations to ensure safer betting.
Speaking in an interview with The Guardian, Maynard commented, “When I think about the industry right now, I see a highway without speed limits, cars without seatbelt dingers. Regulators are who put the seatbelt dingers in.”
Continuing the analogy, he added that, as regulators, “we’re not going to prevent every crash that could happen, right? But what we’re going to do is make sure that people are educated in what they’re doing; that they’re trained up to a certain standard before they ever do it; make sure that those who seek to benefit economically from this industry are held to high standards.”
He commented that national exclusion lists, such as BetStop in Australia, should be implemented at the federal level. Advertising rules should also be implemented nationwide to protect users.
Massachusetts attempts to control gambling
Massachusetts introduced new rules related to gambling advertising in 2023, which include a ban on ads seen to be targeted at minors or problem gamblers, promotion of specific bets, and misleading terminology such as “free bet” when a customer must first use their own funds.
The state is also considering stricter rules around gambling as part of the Bettor Health Act. The legislation, introduced by Sen. John Keenan would implement a 51% tax rate on Massachusetts sports betting, a ban on prop and in-play bets, a daily wagering cap of $1,000, and a range of other measures to protect residents from the risks of problem gambling.
Maynard has also led an investigation into the limits sportsbooks place on bettors. An initial roundtable to discuss the topic with sportsbooks was swerved by the state’s 10 active betting companies last year, but since then, there have been discussions and sportsbooks shared data on the user accounts they have placed limits on.
“They were worried about having the conversation in public,” reflected Maynard. “My job is not to increase profits for the operators. That’s not my job. My job is to balance the equities and to cure any inequities. And so I didn’t take it personally.”
Maynard became chair of the MGC in August 2022, the same month that the state introduced legal sports betting. Under his stewardship, the regulator has fined licensed operators $195,000 over noncompliance with various rules regarding advertising, and accepting bets on certain markets, such as college and Russian sports.
Unregulated markets used as the boogeyman
The regulator has also issued various cease-and-desist letters to unregulated betting companies. In the interview, Maynard commented that sportsbooks often cite increased regulation as a risk of turning users towards unlicensed operators.
“I don’t like the unregulated market being used as the boogeyman to every operator for every reason,” he said. “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.”
While regulated sportsbooks generated almost $600 million in Massachusetts last year, unregulated platforms such as offshore sportsbooks could have generated 2 or 3 times that given national figures put the unregulated industry at $67 billion, which accounts for 74% of the entire gambling market.
Regulators face an uphill battle and Maynard commented that he felt they “are not being respected” right now. He added that, “I think that trickles across and down. It can be as wide as the industry, and down to the average citizen.”
Adam is an experienced writer with years of experience in the gambling industry. He has worked as a content writer and editor for five years on sites such as Oddschecker, CoinTelegraph and Gambling Industry News, bringing excellent knowledge of the world of sports betting and online gambling. Adam focuses on emerging stories in the ever changing landscape of betting in the US. Read the latest on prediction markets, changing legislation, and sweepstakes.
