If you live in the United States and have been paying attention to the local news recently, you might have noticed that your state is starting to adopt more gambling outlets. Some might be online sportsbook apps, some might be betting stations in stadiums, and some might be plans for casinos. Not every state is doing it, but a lot have legalized gambling in the past two years. So why the sudden interest?
The big thing is money. Especially after the pandemic hit the economy hard, states are looking for new ways to bring in revenue. It turns out that gambling brings in a lot of money, especially when sports are involved. That’s because people have been betting on sports in their neighborhoods for a long time already. Another contributor is the rise of online gambling, which makes the process cheaper and easier for the consumer. It all comes together to show that gambling is a strong industry that states cannot miss out on.
It Started With Safety And Reach
Even before the lockdowns of 2020, many states were attracted to the safety of online casinos and betting sites. Online gambling and betting, when done through legal channels, protects the users’ money and lets them gamble from the anonymity of their homes. They don’t have to go out carrying large sums of cash or travel to a place they’re not familiar with. Then, when everyone was forced to stay at home, the popularity of online gambling skyrocketed.
Another benefit of online casinos is that buy-ins are cheaper. You can play slots for literal cents from your phone. The ease and low risk of this gives a lot of would-be gamblers more confidence, as they know they can pull out without spending too much money. These more acceptable stakes get a lot more people to adopt gambling, thus increasing the total revenue.
People can now legally bet on sports in Connecticut. https://t.co/rruRR0wpt0
— CBS New York (@CBSNewYork) October 1, 2021
Going through an online site or app also happens to be the best and most popular way to handle sports betting. You have access to more spreads with bigger payouts and different odds than your office pool, and can get bonus cash for playing certain games or signing up through certain sites.
Online betting completely changed the game and brings in new players with the promise of safe play on their time. Here in 2021, it only makes more sense to conduct business on safe online platforms. Now that the gambling industry has the technology and earns lots of money, states are going to want to jump on or lose out.
It Makes Lots Of Money
One only has to look at the numbers to see how even small states can make big money with legal gambling. Michigan is one of the more recent entries, having only started this year. The state’s earnings from June showed that the state’s online casino revenue brought in over $89 million. That’s without sports betting in Michigan, which earned $25 million on its own. In total, Michigan’s online gambling revenue for June hit $114.2 million.
That number gets even more shocking when you factor in how New Jersey earned $107.1 million and Pennsylvania had $100.8 million. Those two states have been gambling giants for years, and yet Michigan beat them after a few months. It shows that the profits are ripe for any state even if they’re just getting started now.
Sports Betting Is Already Happening, Anyway
Lastly, people all over America are already betting. They create Superbowl spreads, wager on fantasy leagues, and do office March Madness brackets. So why not legalize it and expand these activities in a way that lets the states share the profits? This also benefits the citizens, as they gain access to a larger group of bettors and gives them a shot at taking home a bigger prize. Sports betting alone is a great reason for why states should legalize gambling.