Opinion Graphic fall 2020

With sports betting now legal in many states, debate about whether the shift to legalization is beneficial or harmful is spreading. While betting can cause some to lose substantial sums of money and become addicted, it can also be an enjoyable form of casual entertainment. The move toward the legalization of sports betting is good, and people across the U.S. should have the option to bet.

Sports betting is now legal in 30 states, with casinos, online platforms and other businesses taking bets. Since the U.S. Supreme Court ruled that it was constitutional for states to make laws legalizing and regulating sports gambling in 2018, Americans have bet more than $81 billion on sporting events, teams and athletes, according to Legal Sports Report

In-person sports betting in Arkansas casinos has been legal since November 2018, and Arkansans have bet more than $96 million since then, according to Legal Sports Report. The state government collects a 13-20% tax on all sports betting revenue, with most of the $1.7 million and counting going to the state’s general fund. 

Other states collect taxes on sports betting revenues at even higher rates or permit online and mobile betting in addition to in-person, raising tax revenues in the tens and hundreds of millions.

The government of Maryland, one of the most recent states to kick off legal sports betting, will levy a 15% tax on the proceeds. Much of that money will go toward public schools.

That is one of the benefits of legalizing sports betting. When people bet on sports, the public can benefit from cash infusions into public services like education, which is important for creating an informed, well-employed society and a strong economy.

Sports betting is also creating growth opportunities for streaming services like fuboTV, a company currently expanding its offerings to cater to fans of sports betting. The live TV streaming service now features game and event broadcasts with an integrated gambling platform, which will likely improve customer retention and draw in new subscribers, making FUBO stock a good long-term investment.

Sports betting helps stimulate the economy by causing more money to change hands, which can benefit investors.

Some people do not believe the benefits outweigh the risks. There are many who bet too much on sports, which could lead to them losing their homes and savings. While that is a risk, it is ultimately up to individuals to choose whether to make bets.

Although it can lead to financial problems for some, sports betting should be legal because people should have the choice to bet if they wish. The U.S. is great because its foundations are liberty and freedom. People are already guaranteed many personal freedoms, and the freedom to gamble with hard-earned money should be the right of any citizen.

Sometimes the government regulates too many aspects of peoples’ lives, and it could lead to a loss of freedom in the future. Legalizing sports betting nationwide will reinforce the importance of freedom in the U.S.

There is nothing inherently wrong with sports betting, which merely entails people betting money on teams or athletes as a form of enjoyment. Overall, the societal benefits of sports betting, such as increased tax revenue outweigh the risks of losing it all while betting. But the most important reason the national legalization of sports betting would be a positive change is it upholds American freedom and gives people the power to make their own decisions with their own money.

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