Gambling has been an integral part of every society as far as people can remember. However, that was not the case in the US over the past 26 years. In 1992, the Professional and Amateur Sports Protection Act (PASPA) was enacted to prohibit sports betting legalization across the US states.
However, this era ended in May 2018 when the Supreme Court declared PASPA unconstitutional. The ruling has opened the door for each state to decide for itself whether it wants to legalize sports betting on its territory or not.
Experts agree that, generally speaking, legalization would bring many benefits. To get a full glimpse of what these benefits are, head over to the NJ Games infographic below.
Eliminating Grey Economy
The greatest benefit of sports betting legalization is the elimination of underground bookkeepers. Previously, a lot of money went into illegal gambling operations and far from the legal cash flows. However, now that this practice is not considered necessarily illegal, sports betting industry is already bringing millions into the state’s budget.
With an estimated $41 billion spend during 2018, the tax returns bring enough money to re-invest into gambling operations and still fund community projects. On top of that, the gambling industry isn’t self-sufficient. It will definitely require the consolidated effort of different industries.
New Job Opportunities
Some of these industries are hospitality, tech, and entertainment. A lot of funds go into building brick-and-mortar casinos, restaurants, and hotels. Furthermore, running a casino requires dedicated employees and other technical and promotional services.
Casinos live off constant events, promos, and promotion via media outlets. They need to create a constant interest in their clients to operate successfully. However, none of this would work if it wasn’t for the technical services.
Contemporary sports betting cannot avoid technology either. Whether it’s for casino logistics, operating systems, or customer support, every serious company will have to hire tech professionals.
For example, it’s hard to imagine an operator without proper sports betting app. Considering the growing popularity of mobile apps and mobile devices in general, you must hire someone to build a fully functional betting app for you, or else your customer base will quickly diminish.
Another benefit of the sports betting legalization is better gambling prevention. While being fun and exhilarating, gambling can be highly addictive. However, each casino operation must provide a support line and other safety mechanisms to protect the user.
Of course, there are other, more sophisticated methods to prevent addiction. Now, users could limit deposits and even lock their accounts to restrict themselves from excessive gambling.
Needless to say, all this was not possible during PASPA and underground gambling activities. Simply said, illegal operators were not required to provide any assistance, and most of them didn’t care about their users’ wellbeing anyway.
That’s not all when it comes to the benefits of legalized sports betting. To learn about the full impact it has on user experience, gambling industry, and the US economy, check out the infographic below.