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SportsTranscript
00:00This could be a major problem moving forward if we don't get a handle on credit card limits and maximum deposits as far as what you can use on your credit card.
00:08I mean, not that it's any better to use your bank account, but at least for people who know that they have the money that is discretionary, that they can actually lose as opposed to just what, throwing $5,000, $10,000 on a credit card in a deposit.
00:21Yeah, you're absolutely right, Craig. There's only a couple of states that have really kind of taken this issue on, and Pennsylvania seems to be the latest one.
00:30Senator Wayne Fontana there in Pennsylvania filing a bill on Monday that calls for an outright ban on credit card funding, using a credit card to fund your online gambling accounts, whether that be online casino, lottery games, daily fantasy sports, and sports betting.
00:51And I spoke to him, and he was telling me that they do have an obligation. They're partners with a lot of these, all of these online sports betting companies that are active in Pennsylvania, and they have an obligation to prevent addiction when they can and where they can.
01:10He wrote a memo back in March kind of outlining some of the statistics around this issue, and he said that in that memo, the average Pennsylvania resident carries more than $5,600 in credit card debt.
01:24A lot of the players using online gambling apps are young people, he told me, between 18 and 30, and they are just at a higher risk for carrying that credit card balance.
01:39He did tell me, you know, of course they have the warnings, the problem gambling hotline, but he did tell me that this is a more substantial approach to that problem gambling issue.
01:52And like you said at the top, Craig, there's only a couple of states that have really taken on this issue.
01:57Iowa, Massachusetts, and Tennessee currently ban credit cards from being used to fund your sports betting accounts and online gambling accounts.
02:08Pennsylvania, should this bill pass, would become the fourth.
02:12And interestingly enough, you know, you can use PayPal, Venmo, a variety of different ways to fund your online gambling account, so this just takes that problem gambling initiative one step further.