While there are many pros and cons to sports betting, it is important to remember that states are primarily interested in maximizing their tax revenues. Sports betting regulations should protect the integrity of the game, including sporting and betting integrity. Money is at the core of many state decisions about sports betting, including tax rates and regulatory bodies. However, there is an underlying question of whether sports betting should be legalized in your state. Fortunately, there are still many favorable factors to consider when considering legalizing sports betting.
In 2018, Maine voters overwhelmingly approved legal sports betting. In 2012, the governor vetoed a bill to ban the practice in the state, effectively killing the initiative until 2022. Currently, New Hampshire, Pennsylvania, New Jersey, and Ohio have all passed legislation allowing for sports betting. During lame-duck season, former Utah Sen. Orrin Hatch introduced the Sports Wagering Market Integrity Act, which would have established a clearinghouse for state sports betting markets and federal standards for those states. While the bill did not gain much momentum, it was a symbolic step forward. In Missouri, the legislature held a hearing to discuss sports betting, but has yet to reach consensus.
The legalization of sports betting in the United States sparked a boom in the industry. In just a year, 13 billion dollars will be wagered on sports legally. The popularity of sports betting is catching on in mainstream culture, and newcomers should always remember to have fun while placing their first bet. Even if you don’t win or lose, sports betting can be very rewarding, regardless of whether you bet on a team or individual.
