How Legalizing Gambling Can Fund Economic Growth in the U.S.

The whole picture of gambling in the USA was completely changed by the overruling of the Professional and Amateur Sports Protection Act (PASPA) in May 2018.

The Supreme Court ruled in favor of the state of New Jersey vs the National Collegiate Athletic Association (NCAA). The decision opened up the state – and every other state in America – to betting on both college and professional sports.

What did PASPA do?

Essentially PASPA banned sports betting in the USA anywhere outside of Nevada. Sports lotteries in the states of Delaware, Oregon, and Montana were also exempt.

The law was first passed in 1992. It was initially aimed to stem a growing tide of sports betting across the country.  New Jersey was initially offered a one-year chance to legalize sports betting but did not take the opportunity at the time.

The main concept behind the law was that sports betting disturbed the integrity of sports competitions and leagues. National leagues and associations cited sports betting scandals in the past as having damaged the integrity of organized sport.

Despite the law being in place, many states bore witness to unregulated betting and gambling. The opinion began to move steadily to a new way of looking at the sports betting picture. It was then felt that a reorganizing of laws would be of greater benefit to leagues and states.

What the Overruling Means for the US States

As the state with a long history of exclusivity in the field of sports betting, many of the states newly free to propose gambling laws would do well to look at Nevada. The home of Las Vegas has a rich history in making a success of regulated sports betting and gambling activity.

The rest of the American States will now have the power to propose individual lawson gambling. Many states including, New Jersey, New York, Michigan, and Illinois have access to unrestricted sports betting in-person and on mobile devices.

Other states including Arizona, Nebraska, and Connecticut are awaiting approval for full access to sports betting.

As the whole issue of the overruling was allowing each state to make their own laws for gambling activities, there have been certain states with different ideas.

As it stands, the future of regulated sports betting looks uncertain in Oklahoma and Maine. Utah remains distinctly opposed to any form of gambling, so is unlikely to pass any new laws on sports gambling. 

The Gambling Outlook Around the World

In other nations, the history of gambling and sports betting has been markedly different. In the UK for example, companies have had far greater freedom to promote and develop their products.

Players with an account at a UK sports betting site are free to discover the latest odds and bet often as they please, on a variety of competitions (national and international).

The UK has a long history of sports gambling and betting activity. Organized horseracing competitions for example were initially set up hundreds of years ago as a vehicle to allow spectators to make wagers on the outcome of the event. Popular team sports, such as soccer and rugby, have also long held a fascination for gamblers.

The UK was also at the forefront of embracing online technology for sports betting. The laissez-faire approach taken by the country has also seen a rise in profits since the boom in online betting.

Other European countries including France, Spain, and Malta have also been fast to see the benefits of sports betting and regulated gambling.

How Legalizing Gambling Benefits the Local Economy

The US States can benefit from legalized gambling in several different ways.

First and foremost is the creation of jobs. It is estimated that legalized gambling has made over 1.8 million jobs worldwide.

New job roles in online and land-based casinos and sports venues are integral to facilitating economic growth. Jobs as security guards, cashiers, analysts, and bet makers have all been made available across states where sports betting is now legal.

With more of the local population in work, a greater amount of spending will also enhance the general quality of life in the local and surrounding neighborhoods.

The states themselves also benefit from legal sports betting and gambling activity. It has been suggested that one of the principal reasons why PASPA was struck down was because of the money being lost. States just had to take one look at how much cash Nevada was bringing home to realize that they could experience some of the same.

With states being allowed to manage the tax from regulated sports betting as they see fit, they can fund public services such as hospitals, schools, and charitable resources. As a benefit to both state and its residents, it looks pretty clear.

One of these charitable resources can help to support anyone suffering from the ill effects of prolonged gambling addiction. This is a direct response to any critics of sports betting legalizations who may have feared a growth in disruptive behavior and damaging addictions.

The key advantage of legalized sports betting and gambling is that the profits and taxable money gained will stay in the state. Before the removal of PASPA, many states lost out to online resources from international or out-of-state companies.

By making rules for the governance of sports betting, individual states can look after their own affairs. In doing so, they can enjoy the benefits of legalized regulated sports betting and gaming.

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