If online gambling were legalized in all 50 US states, would you play? The answer is likely yes. Who wouldn’t? You would have an opportunity to sit at home and play from the convenience of your couch.
Sports betting has proven to be a HUGE cash cow for states. What this means for you is that the idea of online gambling could find its way to fruition soon. What this means for states is that they can cash in and take the tax revenue from winnings and apply it to the state to enhance roadways, education, and more.
When looking at sports betting, it is shocking to see that three, yes THREE, states that have recently unlocked the doors to online gambling have collected more than $3 million in tax revenue. Imagine what that money can do for individual states alone!
Who Will Be the First?
It is never easy to tell who the first states will be to move towards sports betting next. As of this article, Rhode Island, New York, West Virginia, and Pennsylvania have legalized the activity.
Sara Slane, the Senior Vice President of Public Affairs at the American Gaming Association predicts that casinos will be the next in line to start offering sports betting. She says, “There are currently 40 states with casinos. I’d bet 10 to 15 of these move to offer sports betting by the next legislative session.”
NFL Season to Be a BIG Hit
One of the biggest generators of sports betting will be the NFL. People already make bets now locally and inside groups within their offices.
The NFL has a HUGE impact on individuals and many of them look forward to making bets.
During the first three days of NFL’s preseason games there was an estimated $3.5 million wagered in Mississippi.
While the NFL will be a big revenue generator for sports betting, other sports will impact revenue and add to it as well. Hopeful individuals expect that the NHL, NBA, NASCAR, and MMA will bring in extra revenue when the NFL is in the off season.
Effects of Legalizing Sports Betting
There are many benefits that can come from sports betting in addition to the revenue it will help generate.
Mark Cuban, owner of the Dallas Mavericks, states this, “You’ll have fun at the arena, at the stadium, and while you’re watching it whether it’s online or on traditional TV. I think this is something that benefits everybody even tangentially associated with sports.”
While sports betting has always been done behind the scenes, legalizing it and allowing fans to join in allows for added fun. In addition, legalizing the activity allows for technology to be used to enhance the experience.
One interesting survey performed by the American Gambling Association found that in 2015, sports bettors make up about 25% of the NFL’s TV audience and that these bettors account for 47% of all minutes viewed.
Get Ready for Sports Betting
Brace yourselves because sports betting could be on its way in and for good reason too. If you are an avid sports bettor, do not be afraid to advocate your position on the matter!