Betting on sports is one of the most entertaining pastimes for sports lovers despite it being illegal in many places. It adds a different thrill to the already titillating games. It is also a great way to expand your knowledge of the games and even put it to test! Most gamblers consider sports betting as games of skill rather than chance. While that’s a debatable question, the real issue here is if it should be legalized like other gambling activities. Many countries like Australia and UK have already regulated sports betting. And many US states like Delaware, Nevada, Montana and Illinois have legalized betting on sports and online gambling due to its economic benefits. But with many other states still debating the change, there’s still a long way to go. Here are a few reasons why sports betting should be legalized all over the world.
It’s A Thriving Industry
Those who oppose the legalization of sports betting don’t realize that it’s already a thriving industry! Illegal betting already generates a huge income (close to 150 billion dollars) annually according to some estimates. Anyone can place a bet online or through local or offshore books illegally. And you can imagine where all this untaxed money goes. Legalizing sports betting can help the governments utilize this growing industry to generate more revenue for itself. Many countries have already recognized the potential in legalizing sports betting. With the legalization of Illinois sports betting, the state has understood the need of the hour and other states are expected to soon follow.
Increase Ratings for Sports
If point spreads didn’t exist, many of us wouldn’t even watch the games where our favorite teams aren’t playing! According to the American Gaming Association, people betting on NFL games watch 19 more games every season compared to those who don’t bet. Betting on sports makes people watch more sports than they normally would. This can help increase TV ratings, boost advertising revenue and benefit the economy. Hence, sports-betting has a direct effect on the TV rating and economy.
Good for the Economy
While legal sports betting can be very good for players and casinos, it is also beneficial to the economy of a state or country. Sports-betting generates a lot of income, whether it’s legal or illegal. However, all the money generated form illegal betting goes to personal accounts. In contrast, the tax revenue generated from legal bets goes directly to the government. This money can be used on the welfare and care of the local communities and to create more jobs. Hence, instead of wasting millions of dollars, we can use that money to do some good for the community!
Control Illegal Betting and Corruption
Legalizing sports betting can go a long way in controlling illegal betting and game fixing. Whether we acknowledge it or not, game fixing is the harsh truth of many games. With legal betting options available, most people won’t be encouraged to participate in such illegal endeavors. And once legalized, the government can monitor the bets and detect any illegal activity quickly. This transparency can reduce the corruption and game fixing that is currently prevalent in many game formats.
Whether it’s legal or illegal, the sports betting industry is already thriving across the globe. Legalizing the process can help the government to increase its revenue and control the corruption in games at the same time.