With the recent overturning of the sports betting ban In New Jersey, there has been a lot of outcry as to why this is bad, with arguments usually revolving around the same old issues of morality and the like. What a lot of people don’t realize that lifting the sports betting ban outside Las Vegas (yes, the ban never applied to Vegas) can actually be very good for everyone. Here is why:
One of the problems of a sports betting ban outside of Las Vegas is that it doesn’t actually stop sports betting. What you end up with are shady operations that offer big payouts but bettors run the risk of getting robbed, scammed, or worse. Victims aren’t likely to go running to the police because, well, doing so would also have to include them admitting that they engaged in something illegal. The thieves get away more often that not.
Having the sports betting become a legal activity means that bettors will have access to sports books that will have to register as businesses. What does this mean? It means accountability. Promised payouts, customer security, and customer safety become things that the business can be held accountable for lest they face charges. This will make it safer for bettors and their money.
New businesses mean new job openings. Given the extremely competitive job market, creating new jobs benefits everybody; Legal jobs at that, protected by labor and wage laws. By lifting the ban and allowing these businesses to open up as legit, the people who work in the business will now be contributing to society rather than hiding from it.
As a legitimate business, a sports betting business would be taxed as all legitimate businesses are. This means that the money going into the business will also be going back into the community, once again benefiting everybody.
One of the reasons that people with gambling addictions don’t ask for help is because they’re afraid of being ostracized for their chosen hobby. Lifting the ban also gives gambling addiction support groups a platform to engage the families of bettors, showing them how, in moderation, sports betting isn’t a bad thing. Having the family more accepting of the hobby has been shown to help bettors understand when they’re betting too much.