If you are a gambler, you already know that more and more states are legalizing the practice. Not only this, but more and more people are partaking in the practice. Just look at the number. The industry is currently a billion-dollar one and only forecasted to grow. What does this tell you? It tells you that more and more people are gambling and betting on sports. It really doesn’t get much simpler than that. Despite these revelations, there are still a number of states and countries where the practice is still deemed illegal. Unfortunately, these places are only holding back progress because there are tons of benefits that could come along with legalizing fantasy sports as well as other forms of online gambling.
Tax Revenue For The State
This first one is pretty obvious and it is really the major reason that most states have already legalized gambling. Just look at the money that the state can make in taxes. Not only can they tax these casinos, but they can tax the winners as well. Say someone hits a $10,000 jackpot. Well, the state could collect nearly 3 to 5 percent of that. A measly 3 percent of $10,000 is $300. So, the state could have collected $300 for just doing nothing. While not everyone hits these kinds of jackpots every day or all the time, they do hit even bigger ones from time to time. However, this is not the only area where taxes could be collected. Just imagine what a popular online casino brings in at the end of the year. Tax that by 3 percent. You’ll be looking at some major earning potential.
People Are Doing It Anyways
It doesn’t matter if it is baccarat online or drinking and driving, people are going to do it. And, they do it every day, even though it is legal. This is not to say that drinking and driving should be legal, but it is something that people do. Gambling, on the other hand, is entirely different as it doesn’t put anyone’s life at risk. Drinking and driving is just an example. With the number of online casinos available today, people are going to gamble whether it is legal in their state or not. Gambling is not really a crime like drinking and driving or murder.
Eliminate Criminal Elements
If you remember when prohibition was in effect the crime rose vastly. The same can be said about gambling. As mentioned above, if people want to gamble, they are going to do it, whether it is legal or not. And, while there are tons of reliable sources available today where people can gamble safely, this wasn’t always the case. Heck, it isn’t even entirely always the case still today. Do you think that people don’t use bookies and loan sharks today? Of course, they do because gambling is still illegal in some places. If you make it legal, it would put these criminal entities out of business. Simply put, making gambling legal would make the entire sector safer for everyone involved.