Let’s roll the dice on legalized sports betting
With his state’s budget sinking into a financial black hole, Delaware Gov. Jack Markell signed a sports wagering bill into law last week. An old argument was revived once again – should sports gambling be legalized in the United States? Why not? Gambling has been a part of Americana since our inception.
Government has been the biggest promoter of gambling, as 44 states have a lottery system and 29 states are home to casinos. It is time for our lawmakers to examine the idea of licensing and regulating the sports betting industry.
Politicians use to avoid gambling like the plague, but that has all changed since the advent of riverboat gambling and Indian casinos in recent years. According to several different studies, approximately $380 billion is bet legally or illegally on sports in the United States each year, and PricewaterhouseCoopers, a certified public accountant firm, has estimated that the federal government could earn $2 billion over the next decade if they begin taxing rather than policing sports gambling.
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