Sports betting is one of the most enjoyable activities around the world. One could even argue that this activity has been done since the beginning of sporting activities.
Nowadays as time continues to go on by, the sports betting industry has become one of the brightest up and coming sports entertainment industries around, especially with all the technological advancements that are around, with more and more fans lured day in and day out to bet online on their favorite sporting events and activities.
While around the world the activity that is sports betting is not frowned upon and it’s considered legal and by the book line of work and business in the United States the reality has for a long time been another. But with more and more states starting to legalize sports betting in all its forms, one can’t help but wonder, why has it taken so long and what will happen down the line? Let’s explore what the results of legalizing sports betting across the US might bring.
The present reality for sports betting in the US
Up until the Supreme Court’s ruling in 2018 that overturned the 1992 Pro and Amateur Sports Protection, sports betting in the United States had been illegal, excluding certain exceptions such as casinos and other establishments with special permits to allow this kind of activity. As of the year 2018 though, 31 states across the US have legalized sports betting to different degrees with 17 others working towards legalization by the year 2022 and three others either not making any moves towards changing their stance on the activity or Utah, where gambling is prohibited by the state’s own constitution, meaning it’s a no for Utah.
While one of the three most populated states in the US, Florida, has already legalized both physical and online sports betting activity, it is expected for California and Texas to both join Florida, causing even more of a pressure effect for other states to join. By the US completely legalizing sports betting as a legitimate business activity and industry, it would be assuring itself of an industry that could easily rake in almost $70 billion in profits yearly.
Legalizing sports betting could help with the job situation
It’s no secret that the global COVID-19 pandemic struck hard on the world economy and the US was right there in the middle of the crisis, doing its best and most valiant effort to go forward and minimizing the overall damages to the economy that the health crisis provoked. One way in which the economy of the country could seriously benefit from legalizing sports betting both physical and online is how many new job options and openings would appear. It is estimated that once California and Texas join Florida as the three most populated states to legalize sports betting that would open up a job market with over 90 million positions open for professionals of all walks of life.
While for now American citizens have had to rely on offshore online sportsbooks or making a casual trip to places like Las Vegas if they wish to get their wagering fix, with the legalization of the said industry, those same citizens would be able to enjoy their sports betting activities from the comfort of wherever they are and also support an up and coming but ever so quickly growing new American industry.
Legalization would bring a new level of security to fans
It is estimated that roughly around $150 billion are wagered by US betting fans yearly through the black market or other non-legal sources of betting. While betting with online offshore sportsbooks and casinos is one thing, betting through other sorts of platforms with lesser credibility and security measures is a whole other, one where financial and personal data handling security is not usually in its best shape. By legalizing sports betting activities, the US government can ensure fans of the activity as well as themselves a safer route for money dealings in this industry, thus breaking free of all the different dangers and scams that offshore and black-market betting companies may end up putting clients under.
Legalizing sports betting will allow fans to have even more personal and direct access to the companies they are dealing with and they can control just how much of their information is handled and at what level of comfort and transparency.
Read more: How to obtain the Belgium gambling license?