We all know that different US states have different political beliefs. So you might think that the state of gambling legislation is wildly different from state to state. However, the truth is that the majority of states have legalized some form of gambling and are profiting bigtime. Online gambling is the big winner, and sports betting is putting in a lot of work as well. As more people get access to online betting, more money is made. Each state benefits in slightly different ways, which we’ll explore here.
Why Gambling Legislation Is A Recent Issue
As to why gambling laws are a sudden talking point, the US used to prohibit sports betting outside of Las Vegas and gambling outside of casinos. Then, in 2018, the Supreme Court repealed the act that banned sports betting. This had two effects: allowing sports betting outside of Vegas and casino games outside of casinos. Essentially, individual states now have the freedom to decide if they want legal gambling or not. Over the past few years, the majority have elected to allow at least sports betting. Many also allow online casinos.
Now that several states have had legal sports betting for over a year, we have the data to see just how they’ve benefitted. The short answer is money. The long version is that new industries are being created, new kinds of revenue are springing up, and sports culture as a whole has changed.
Small States, Big Money
The clearest benefit is that states that legalize gambling make money. As part of any law that makes gambling legal, the state in question takes a percentage of the gambling companies’ revenue. They also get a cut whenever someone hits the jackpot.
For smaller states like Arizona, Michigan, Maryland, and Illinois, this has increased revenue by millions. IL, for instance, reports that over $60 million in bets were placed on Super Bowl 2022 alone. This is a 30% increase on what IL reported for Super Bowl 2021. The state only took about $1.4 million, but that’s a single event. The average monthly total from sports betting also runs in the millions.
What helps states like Illinois are the promo codes issued by gambling platforms. These entice new users with free bets on their easy-to-use apps. Just look up Illinois sportsbooks promo codes to see what kinds of amazing benefits are being offered. These promotions get thousands of new users to sign up and become regular gamblers, creating these amazing revenue numbers.
Big States Attract New Industry
New jobs are always needed, especially in populous states with large cities. When it comes to legal gambling, exclusive deals are being established to erect sports betting booths and kiosks in several major sporting arenas. New York is a great example of this, as MGM announced a deal to put betting stations in Madison Square Garden. The Buffalo Bills also announced a partnership that will build a new sports betting VIP lounge in their stadium. Both of these efforts will bring in construction jobs and create long-term employment, as these new services will require extra staff to keep them running.
Sports Hype Is At An All-Time High
With the country finally opening back up, people are excited to get back to big in-person events. Sports fans have been particularly excited to gather in large crowds and cheer for their teams with no mask on. Players appreciate that stadium seats are no longer full of creepy cardboard cutouts. Sports betting comes at a perfect time, then, as excitement for major league games is bigger than ever.
The addition of being able to bet on one’s favorite teams ups the stakes, as now you could have something personal riding on the game. This new level of investment is paying off in all states, as sports fans throughout the US are flocking back to stadiums.