Is Sports Betting a New Gold Rush?
‘Gold Rush’ is a term we use for a new discovery of gold that makes the people flood the area trying to become rich. In turn, this causes the surrounding cities and towns to thrive, as people needed supplies to remain in the area and often wished to celebrate their winnings.
It is not difficult to see how betting online with promos and codes like the Mansionbet bonus code might be akin to the Gold Rush. However, we need to be a bit more specific regarding why that is.
The Supreme Court did a great service to punters and bookies in the US when it allowed for betting on sports to become legal. As you may or may not know, gambling has always been somewhat questionable in the United States. There are still many states that ban it in any shape and form and, up until recently, the only sports betting one could do was on the horse track.
Why is legalizing betting such a big deal? Well, there are billions upon billions of dollars being circulated without any regulations in the illegal sports betting market. That simply screams ‘untapped potential’ in terms of boosting the economy.
What Does This Mean?
Mississippi, New Jersey, and West Virginia are among the states that legalized betting on sports as the result of the Supreme Court ruling. Rumor has it that it’s just the beginning and that at least a dozen states are considering passing legislation that is going to allow betting on sports.
The meaning behind this is clear – legalizing this form of gambling will not only regulate the illegal activities, which would provide punters with a relatively safe environment to pursue their interests, but it will also give a chance to states and cities to improve their standard of living by enhancing their budget.
There is also one more advantage to consider – remember how we’ve mentioned that cities with gold experienced an economic boom? Consider, if you will, cities like Las Vegas, Nevada. Normally, you wouldn’t expect a city like this to thrive in its setting – the desert is barren, the heat is exhausting, and the industries that are, admittedly, fruitful, are too far away for people to consider employment. However, it is also the city in the US that is synonymous with gambling, so it managed to become a marvel in the middle of nowhere. We expect something similar will happen with states that legalized sports betting.
The Likely Winners
If we don’t count the businesses huddled around bookies, it is likely that those that will profit the most are the bookies themselves. However, there are also the punters and the money transfer services that banks provide, as well as the legislation concerning gambling that will include taxes on winnings. In other words, we expect great things in the future for the federal budget as well as the private companies.