The gambling world has experienced a lot of changes in recent years.
What was once an underground, stigmatized sector has now blossomed into a technologically advanced, fiercely innovative industry ever since the Supreme Court paved the way to legalization back in 2018. The gambling world is packed to the brim with some of the most creative minds in business, and there are plenty of fantastic companies that have emerged in recent months.
In particular, one sector that has seen a lot of development recently is sports betting. Sports betting used to be illegal in a lot of areas around the world, but recently it has gained some more traction. This is especially true in America. Here at NJ Gambling Fun, we’re incredibly passionate about sports betting and think it has the power to affect the community positively.
An interesting conversation topic that we’ve seen coming up in past months is whether states should be moving to legalize sports betting and online sports gaming to support the economy. This idea has caused a lot of debate recently, as the movement to legalize sports betting completely is very fierce- but so is the opposition.
In this blog post, we’ve collected 4 of the top reasons why all of the states in America who do not currently have legal sports betting should be reconsidering their stances, and how legal sports betting could help the economy.
Legalizing sports betting could bring in much-needed tax revenue
One of the main benefits that should be considered when looking at legalizing sports betting nationwide is that it could bring in a lot of tax revenue for states that are struggling to stay afloat right now. As many of you will already know, recent events with the pandemic have left a lot of states struggling with their revenue streams.
This is, in part, due to the casino closures that have taken place across the country. Casinos were immediately forced to close, which led to a massive drop in profits across states like New Jersey and Nevada. This also had a detrimental effect on workers and staff members, and led to a loss of profit for nearby, local businesses.
Legalizing sports betting and online sports gaming could be a wonderful way to get more people spending money in a safe, regulated way while they are at home. If more states were to move towards legalizing sports betting for their residents, we’re sure that they would see some very positive results in no time at all.
Legal sports betting can help to create more jobs
Another effect that has come about as a side effect of recent events is a loss of jobs in hospitality, entertainment and the arts. It’s been terrible to see so many people losing their jobs, or being placed into uncomfortable circumstances with their work. We’ve personally noticed this happening a lot in the casino world, as many casinos are being forced to cut staff numbers.
Legalizing sports betting could open up more employment opportunities for people, which would be incredible. Obviously, this would not be a quick fix and more resources should be at hand for people who have lost their jobs- but this could be a very positive step to take. It will be interesting to see whether this topic comes up in debates.
Legalizing sports betting can lead to better protection for gamblers
Something else that’s vital to note about legalizing sports betting totally is that it could offer up better protection for gamblers. When illegal sports betting happens, there is less room to prevent malicious gambling practices or for gamblers to protect themselves from exploitation. Additionally, illegal gambling practices do not offer support systems for at-risk gamblers.
Moving to legalize sports betting across the nation could lead to better legal regulations and legislation, meaning that gamblers could play in a safer, more reliable environment. It would also encourage companies to provide more resources and support systems for their customers who are at risk of developing dangerous habits.
After all, protecting customers should be a main point of focus for gambling companies. While gambling can be very fun and rewarding, there is always a risk associated with it. Gamblers and gamers should be protected and supported on a bigger scale wherever possible.
Legalizing it will allow for further technological development
Sports betting and gambling in states like New Jersey has already led to a high rate of technological development and advancement. For example, eSports betting and gambling has become more and more popular lately, yet this is a topic that wasn’t even taken seriously a few years ago. Sports betting has pushed this development, and led to more acceptance.
Generally speaking, legalizing sports betting across the nation right now could be a fantastic move for the economy, employment rates and protecting vulnerable gamblers as well. The United States has endured a lot of chaos and disruption with the pandemic, so it’s important for officials to consider the legalization of sports betting as a viable way to bring in revenue.
Of course, it’s absolutely essential that sports betting is introduced nationwide in a mindful, safe way. Gambling providers should endeavor to make sure that they are providing plenty of resources to support gamblers who could be at risk of developing compulsive habits, and there should be plenty of support systems in place to prevent overspending from happening.
We’re sure that this will happen sooner rather than later, though. The coronavirus pandemic has already had an interesting effect on the potential for full legalization. Many more states are becoming more open to the idea of full legalization, so we’re sure to see some fantastic changes taking place as the year goes on.