Legalization of Sports Internet Gambling in the U.S: The Endless Benefits
Posted by: Hilbert Mayer
It is already established that sports internet gambling is so far one of the most profitable business with the United States in the recent years. The new legislation in 2018 has caused a huge turn to the sporting and gambling arenas. There are a lot of people who will eventually benefit from the legalization of sports gambling. This is beginning with the American government itself, the teams involved in sports, down to the sports and gambling fans. And let us not even start on the amount of profits the legal betting companies will be earning from this.
So far, a few states in the U.S have already been given the go ahead for legal sports internet gambling. However, most are yet to pass the legislation. The main issue that is slowing the process down being the fear of American citizens getting addicted to the process. However, it beats sense. This is primarily because, even with the prohibition of sports betting in the past, bettors have still been doing it illegally. This is through illegal offshore sites. The hugest profits in sports gambling actually come from illegal part of the business.
Estimated, there is an input of up to 95 billion dollars yearly from the NFL and NCAA football games alone. Let us not forget about the rest such as the MLB and NBA. Statistics in 2017 show that gambling could contribute to more than 14 billion dollars to the American GDP. At the end of the day, sports are gaining more and more popularity every day. And more people will be involving themselves in the legal or illegal part of sports betting. Furthermore, the big question is, what are positives of sports betting in the United States of America? Let us get into some of them.
A Favorable Platform for All Punters
The worst, if not the saddest thing about illegal sports internet gambling is monopoly by the illegal betting companies. They control everything in the industry however it suits them. The safety and regulation of the processes are then compromised. This creates a huge risk especially to the money the average bettor in the U.S wagers. There is no assurance of a favorable platform for them. Most end up incurring huge losses due to the same. A legal system will ensure the regulation of sports gambling laws. This will in turn create the best environment for every bettor within the U.S to practice sports gambling.
Sports Internet Gambling: Creation of More Job Opportunities
One of the greatest problems that may cripple the economy of a country is the lack of job opportunities. Legal sports gambling is here to reduce that. A huge number of sportsbooks are coming online as days go by. Also, to sustain the love of gambling, casinos are also becoming a popular place for citizens. Let us not forget the already existing bookmarkers within the industry. Nevada is one of the states where this is evident. All these being in the industry, you can be assured of thousands of job slots for U.S citizens. This will help improve the livelihood of the average American citizen without a job.
Increase in the Government Revenue
Legal employment of citizens means a greater number of people being able to pay taxes. Let us also keep in mind the fact that legal sites within the U.S will also contribute in term of taxes. Approximately 500 billion dollars is generated from the illegal betting industry. A very small percentage comes from the legal part of it. Tourism is also another thing that will promote improving the local communities within the U.S.
Better Sports Integrity
Legalization of sports gambling is expected to create guidelines and safeguard the process. This is by placing specific regulations in the system. Some of them include:
This will also create avenues for information sharing within the sports industry. Not only will this be beneficial to the gambler, it will also net trends for leagues. It will also reduce the hypocrisy within the sporting industry. Most of the major associations have in the past stood up against the legalization of gambling.
An Exciting Sports Platform
Gambling is one of the things that increase the interest of people in games as they wait for major events to wager. In turn, the players will want to bring a more exciting game to their viewers. That will increase the popularity of most leagues. Also, more news platforms will be willing to air the events. That is from the cut they will be getting for showing the games.
It is okay to say that there are more and more benefits that will be generated from the sports online betting. The biggest advantages being to the government and the average bettor. Join BetNow.eu now to ensure a safe and legal way to place your wagers on all sports you are interested in.