Sports betting is something that is happening whether it’s legal or not. So, why not make it legal to provide a better environment and exposure for sports betting, which is getting popular day by day.
Need of Laws or Legalization
- To Protect Gamblers/Betters: From the initial days, most of the sports betting has been done illegally due to its monetary benefit. Most of the sports market was led by mafia and criminals because sports betting was not regulated legally, which does not ensure the safety of bettors. With proper laws and regulations, the government can ensure safe and legal ways to do betting or bookmarking. With a government-approved license, the player will also feel safer with their money. Also, the government can help their people in facing the problem of “gambling addiction”.
- Generate Tax Revenue: The average illegal wage of Americans is around 148 billion to 500 billion U.S. Dollars on sports. If the state government roughly taxed 2.5% of stakeholders that is a lot of annual revenue flowing in U.S states. By legalizing sports betting the revenue can be used for the welfare of people.
- Create lots of employment Opportunities: Licensed sportsbooks will generate lots of job opportunities like cashiers, oddsmakers, analysts, etc. This shows that legalization will create lots of jobs for the people which will eventually enhance the economy of any country.
- Protect the integrity of games: The integrity of games was a major concern for many people, it was one of the reasons many people disagreed with the idea of legalization of sports betting.
Over time the nature of qq online betting has changed from betting on lotteries, horse racing to team sports, political elections, reality shows, or fantasy sports. And with the emergence of the internet and the growing technologies, the scope and expansion of sports betting have been improved.