The historical announcement of sports betting legalization in the USA in 2018 open doors for a thriving industry. Betting on sports is legal in various countries, and now the USA has joined the list. However, Supreme Court announced that the ban from sports betting is lifted, but it is up to a particular state whether they want to allow betting in its territory or not.
Over 20 states have legalized betting on sports in the last three years, and many are on their way to do so. And Maryland could be one of them. Governor Larry Hogan signed over 200 bills, and one of them was sports betting. Thus, the legislation has become a law, and we may get to bet on qualitative bookmakers like betsport22 later this year. Here, we would like to mention how legalization can impact Maryland.
More Earning for State
Similar to the casino industry, the sports betting industry has a huge market. The growth of sports betting in the state would increase the tax revenue for the government. After legalization, many betting providers would want to provide their services in Maryland. Since the state has many people who are in favor of legal betting, the growth of the betting industry is inevitable. Eventually, the state can levy tax on providers and increase its earnings. Along with betting providers, the taxes of customers can also be levied. In a nutshell, we can say that legal sports betting can be an income source for the state.
Quality Betting Experience
The rising popularity of the betting industry has increased competition among betting providers. When you look for a bookmaker on the internet, you will find hundreds of options there. Most of them are legal and have valid licenses to operate betting services. Maryland users would be able to use popular and reliable betting platforms that offer their services worldwide. With reputable bookmakers, they will get a quality betting experience. This will decrease the black market of gambling. In addition, heavy competition in the market will benefit the customers as they will get an enriched betting experience.
Millions of people have lost their job in the pandemic, and new businesses can help create employment opportunities. This doesn’t mean that legalizing sports betting will resolve unemployment in the state immediately. However, it can help up to some extent. People who know how to bet will surely get an extra source of income, but people will also get jobs at bookmaker’s different fieldwork. For instance, new bookmakers will need marketing experts, office workers, and people to run offices. Thus, we can say that employment opportunities will be created with legal sports betting.
Control on Illegal Betting
With legalization, the state would be able to eradicate the illegal market of sports betting. There are several bookies that operate illegally within the state to offer betting opportunities to interested people. Most of them are fraud and exploit people. This is bad for people as well as the government. By decriminalizing betting on sports, the state will be able to control illegal betting, and people will get a safe betting platform.
These are advantages of legalized sports betting, but we should not forget that continuous gambling can lead to addiction. Thus, government and people have to beware while betting. Plus, youngsters below the age of 18 will be exposed to betting, so proper education and rules must be established.