The Supreme Court recently reversed a federal sports betting ban of 26 years , allowing each state to decide whether to allow wagers to be placed on baseball, basketball , football, hockey, among other games. Sports betting had previously been banned worldwide, with the exception of four states-Delaware, Nevada, Montana and Oregon.
A vast majority of the American people had supported sports betting legalization (55 per cent felt that sports betting should be legal, only 35 percent opposed), not to mention that the president himself is a former casino owner. Maybe that is why websites such as sportsbook betting online malaysia receive a lot of visitors. So,here are the reasons why sports betting should or should not be legalized.
Why sports betting should be legalized:
Sports betting won’t corrupt the leagues.
Louis Brandeis, a U.S. lawyer and associate justice at the U.S. Supreme Court, once said: “Sunlight is said to be the best disinfectant; electric light the most efficient policeman …” In other words, legalized sports betting will actually make games more difficult to fix. This is because sports betting will be monitored once it is legalized, and any irregular activity will be easily detected. In an unmonitored environment, in which money flows under the radar, it is easier to fix games. Therefore, it is wrong to believe commonly that legalizing sports betting will corrupt sports.
Good for economy
Sports betting is good for the economy. Obviously, legalizing sports betting would generate massive State tax revenues. More importantly, it has the potential to create jobs for the American people (estimated at between 125,000-152,000 jobs). Researchers estimate that legalized, regulated sports betting could actually bring an annual revenue of $6 billion for states by 2023.
It also has potential to bring huge money into the U.S. and keep it there. Most of the betting currently takes place online. The legalization of sports betting in America is more than likely to cause American media and tech companies to take over the foreign market.
It’s a booming industry, already.
Regardless of its legitimacy the betting industry has flourished. Illegal sports betting is a multibillion dollar market (some figures are as high as $150 billion); someone who wants to place a bet can easily do so online or via local office pools and offshore books. Now, after the decision by the Supreme Court, states will be more inclined to consider or pass legislation to legalize sports betting, allowing people to continue betting but in a regulated and fairer environment. Even it would discourage them from treating dubious bookies. In addition, addicts will have less stigma, which can make it easier for them to seek help.
Why sports betting should not be legalized:
Legalizing sports betting won’t make illegal betting disappear
The main reason people bet on bookies isn’t the lack of alternative but availability and, most importantly, the generous credit line that bookies offer. Bettors need not deposit money to bet on bookies, making it easier for them to bet on money they don’t have. That’s the key reason why wagers get into confusing debt circumstances too. In fact, bookies will give their consumers higher margins and betting prices, as they do not pay taxes. Therefore, legalizing sports betting does not eradicate the illegal betting and the resulting issues. Increased opportunities for gambling on sports , for example, can increase the number of gamblers, yet services to help gambling addicts are most likely not to rise in parallel.
The house always win
Many of those who have called for sports betting legalization said it’s more about skills than chance. They said it’s about wittingly identifying opportunities, and acting on them, much like stock trading. But that assertion is incorrect. The human element has an enormous impact on sports; the unexpected often happens, which can affect everyone from the team owners to the last player. Even where skill can improve winning odds, people betting on sports may not always have the profound understanding of the statistics needed to win. Typically people bet on a hunch based sport, not expertise.
It will change American sports’ nature
The legalization of sports gambling will gradually change American sports. The sports industry, as with anything that involves money, will become much more commercialized than it is now. The focus of American sports will become betting rather than the game itself, in a slow but consistent process. Anyone who has ever played at a sporting event knows that if you place a bet, the game ‘s focus immediately turns into money, not the game itself. Yet sports are not like that.