Those who’ve studied the real-world impact of the burgeoning sports-gambling legalization wave – and earlier expansions of other forms of gambling, like lotteries and racetrack casinos – say that the numbers are as yet uncertain and rife with confounding factors. Legalized sports books, according to advocates, could tap into a potential $10 billion-a-year industry, boosting public coffers at a time when the ravages of the pandemic economy have left states with massive budget shortfalls.īut economists warn that state officials may want to hold off before planning how to spend their sports-book boodle. since 2006), there has been an air of “get rich quick” about the projections. Adam Miller, envisioning tens of millions of fresh dollars pouring into the state treasury.Īs states have moved one after another to legalize betting on the outcome of sporting events (betting on fantasy sports has been legal in most of the U.S. “It’s going to benefit education and veterans groups in a really substantial way,” promised the bill’s co-sponsor, state Rep. Mike DeWine signed legislation in December making Ohio the 33rd state to legalize sports gambling, the talk locally was less of opening up the joys of betting on who’ll score the Cleveland Browns’ first touchdown than of the flood of new money it would bring to state coffers. Monthly Issue Passions & Pitfalls in American Sports Betting
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