A lot of states in the US welcome the idea of sports betting. For the past 26 years, this practice was legal only in four states across the country, but all that changed in May 2018.
The Supreme Court removed the federal law which prohibited sports betting in most American states, meaning that wagers can now be placed legally on football, basketball, rugby etc.
This change will definitely have a huge effect on the economy and local businesses for the next few years. So, how big an impact will the legalization of sports betting have? You can check the infographic below and see a detailed description of how the Supreme Court’s ruling is going to impact the American society.
It is worth noting that not everyone agreed with the decision to legalize sports betting. Most of America’s major professional sports associations, like NCCA, NBA, and NFL, were against lifting the ban. They felt that the ban being lifted would affect the integrity of the game, giving way to corruption and match-fixing. Although it would have been hard to practice such things, there was a consensus that it would be better to rule out the possibility altogether.
The state of Utah is currently the only state not to take any actions in response to the Supreme Court’s ruling. While most other states have made significant headway in making sports betting formally legal, Utah has not change its stance on the subject.
The infographic below will show you the impact that the new rule will undoubtedly have on the US economy. The lifted ban will open up a whole new portal for cash flow. The gambling industry in the US already generates a reported $208 billion for 2018, and the recently uplifted ban will only serve to significantly increase that sum.
Check out the infographic below to learn more about other effects like increase in job opportunities and the tax impact that legalized sports betting will have in the near future.