38 different states have legalized sports betting in the recent past. A small handful of states are considering legalizing it. However, betting on sports is still illegal in major states such as California and Texas, and the efforts made to legalize sports betting in these states have failed so far. Since it’s been centuries after people began betting on horse racing, the stigma around gambling on sports should have changed at a legislative level.
In 2023 alone, the sports betting industry brought in $570 million for the federal government through taxes. The addition of states like California and Texas would bring in a huge market. New York has been the largest sports betting state in terms of revenue over the last 5 years, generating over 200 million a year. California and Texas legalizing sports betting would undeniably make up two of the top three spots, making them massive hubs with plenty of cash that can be pulled in by the federal government. Legalizing sports betting in Texas and California would bring in a healthy sum of money for the government.
Sports betting would also bring in different audiences to sports. Georgia has loyal sports fan bases that attract large audiences. Missouri has sports teams in four of the five major American leagues, and a thriving sports culture that would expand with the legalization of sports betting. If it were legalized in states such as Missouri and Georgia, it has the potential to bring in millions of dollars to the government. In the past in these states, all three forms of betting had proposals to be legalized, but signs have pointed to no thus far to legalize sports betting in any way.
As of now, a large portion of the American population resorts to illegal methods in order to bet on sports. The national legalization of sports betting would make the betting experience more uniform for all, and would help funnel the money that many are already giving to undercover sites into the national economy.
Despite the constant advertisements and pushing sports betting towards children, the majority of Americans still do not hold a moral grudge against sports gambling. A poll run by Seton Hall University found that 54% of the general public believes that sports betting should be legal, with only 22% opposed to the matter. This props the argument for the legalization of sports betting, as it’s clear that the majority of Americans believe that the benefits of sports betting legalization outweigh the risks, fueling future legislation.
Many of the arguments against sports betting stem from a worry around fueling addictions for gamblers, but with the legalization of betting on horse racing everywhere in America, as well as the presence of online casinos, there already are major catalysts that allow gamblers to get that fix already. The benefits economically, alongside online safety and sporting engagement, make sports betting an attractive proposition for the United States, and it stands as something the federal government should legalize in the near future.
