Online gambling has been a contentious subject in the USA over the last few years, with many States moving forward with plans to legalise it, while others have taken a completely different direction.
Georgia is expected to be one of the latest States to pass bills to allow it in 2024, while residents in the likes of New Jersey, Nevada and West Virginia, to name a few, are already enjoying online casino games and sports betting. And it’s completely changing the shape of gaming in the States.
But how exactly are States benefiting from the moves to legalise online gambling?
Economic Windfall
Of course, firstly, there’s the economic windfall that legalising online gambling provides. It can add a substantial amount of money into state coffers through licensing fees, taxes and many other regulator charges. This can then be used to fund public amenities and services, particularly during a period where many State governments are struggling for funding.
Job Creation and Economic Growth
Then there’s the jobs that online gambling can create. Whether it be working with the casinos, or in skilled areas like marketing, software development and customer service, thousands of jobs are being provided, boosting the economy and taking thousands of people out of unemployment.
Consumer Protections and Regulatory Oversight
Importantly, it’s helping to prevent people from using unregulated and unlicensed gambling sites in the state and encouraging them to play with those that are fully legal within the state. This is not only good for cracking down on crime, but it’s also preventing fraud as well as protecting players from things like problem gambling, with regulated online casinos and betting sites having a duty of care for their players and requiring a number of responsible gambling tools in place.
This breeds confidence and trust in players, as well as offering help to those that do need it.
Social Responsibility Initiatives
By regulating online gambling in a state, portions of the money generated can be then pumped into social responsibility initiatives like supporting those that suffer from problem gambling or being proactive in the implications of it.
This can help emphasise a state’s commitment to the wellbeing of its citizens, as well as ensuring the gambling industry within the state is healthy.
Competitive Edge in the Global Market
Finally, there’s the bigger picture. By legalising online gambling it provides US states with a competitive advantage in the global market. By creating a regulated and attractive environment for operators, states can draw in international investment and position themselves as hubs for the online gambling industry. This not only strengthens the state’s economic standing but also has the potential to boost tourism and related industries.
