Betting is legalized in many states (typically 30 states) in the USA. However, the debate of whether this move is harmful or beneficial is going on. Betting can be seen as a pastime and entertainment however, it causes addiction and some serious money loss. Moreover, the Supreme Court is permitting the states to legalize sports betting all over the US. Below are the 6 reasons as to why sports betting should be legal.
1) It contributes to the popularity of the sports:
It is a known fact that fans get more interested while watching the games when their money is in play. The games get more exciting when every action a player does, affects the odds in sports betting. If a particular sport is popular when the betting is illegal, just think how much more popular it would be if betting is legalized in all the states.
2) Sports betting is nothing but a game of skill:
Sometime earlier when DFS (Daily Fantasy Sports) was launched the organizers found a major loophole in the antigambling laws. The reason is that this DFS is a game of skill, which is quite different from the other forms of gambling. Hence DFS is free to operate legally and not subjected to antigambling laws. We need to have the right skill to play DFS. That means with the right combination of expertise and knowledge we can gain an advantage with respect to the other players.
3) It can be taxed:
for instance, sports betting is legalized in Arkansas since 2018. Since then Arkansans have bet more than ninety-six Million dollars since then. The government of the state collects thirteen to twenty percent tax on all types of sports betting. And around 1.7 Million dollars goes to the general fund of the state. Each state has its own tax to be levied on sports betting. With this, sports betting is a big boon to the economy.
4) There is a great opportunity for business:
When a huge sporting event happens, the betting industry makes a lot of cash. The core sports enthusiasts would like to spend their remaining lives doing something pertaining to sports. So sports betting is a good alternative. If the betting industry is legalized, a lot of sports betting businesses will pop up, and this will in turn improve the economy of the country.
5) A solution to match-fixing:
One of the main reasons why some college leagues are opposed to sports betting is their fear of match-fixing. Fixing was more prevalent in the 90s when the athletes did not earn even half of what they are earning now. It would be stupid of them to lose a game (fixing) because they earn a comfortable seven-figure salary.
6) Final thoughts:
By legalizing sports betting there are a lot of benefits the country can enjoy. It would help the economy grow (it stimulates the economy when more money changes hands). And apart from that, it would popularize some minor and major sports. It will also solve the match-fixing problem.