Sports gambling is a growing business, but is still illegal in most US states. However, the it wasn’t always banned. Sports betting was legal in most parts of the US, but things changed in 1992 when the government decided to ban betting.
The moved received mixed response from the people. While some were glad, some did not understand the reason behind doing so. On government’s part, they said it was to promote healthy gaming.
According to them, sports betting was depriving sports from their real goal, that is to promote entertainment. This is what the U.S authorities thought. But, the gamblers thought otherwise. They were enjoying the betting system.
When a survey was conducted in the U.S, 60% people were in the favor of making sports betting legal in the country. This is a clear proof that people want it in legal, as many people actually take part in sports betting illegally.
Let’s looks at a few reasons why sports betting should be legalized in the US.
End Illegal Betting Market
Illegal betting, as the name suggests, is illegal, hence bad for a number of reasons. It is believed that mafia and criminals are largely involved in illegal betting, which they do not only use to transfer money to each other, but also to win big. This affects our economy and a large amount of black money is increased.
Other than that, a lot of people have to face the music if an online sports betting site turns out to be a fraud. This is because gamblers have no choice but to trust available sites, some of which may be scams. If sports gambling were to be legal then it would make it easier for gamblers to go for licensed gambling sites and ensure that their money was placed on the right site.
Illegal betting market is drastically affecting the economy of the country, and legalizing it is a good solution. It will not only help control the flow of money, but the government can also tax it and increase their revenues.
Increase Country’s Economy
Making sports betting legal will prove to be a great advantage for the country. That’s because with illegal betting, no tax is received. As per reports, the U.S receives an amount of $4.2 trillion as tax money, however this can increase if sports gambling is legalized.
On the other hand, if we consider Nevada, where it is legal to gamble on sports. They generate $4 billion in a year, which is a lot more compared to other same-sized states.
Now, if sports betting were to be legalized in the entire country then a huge amount of tax money can be collected and used for the betterment of the country.
Give Peace Of Mind To Gamblers
It’s always troubling for gamblers to bet on sports online. With sports gambling being illegal, there’s always a risk of getting caught, especially for online betting website owners.
This is because the law is designed to punish the website owner and not the players. Still, the members lose their accounts with their money because the site is taken down.
If U.S authorities legalize sports betting then gamblers will have peace of mind.