Sports betting is a rather controversial topic, but it generates tons of revenue and excitement among individuals and groups alike. So just how much money are states where it is not legal leaving on the table? A new study from Doc’s Sports can answer your question. Read on for answers surrounding the intriguing topic.
Sports Betting: Non-Legalized States
Sports betting is a form of gambling that involves predicting sports results and placing wagers on the outcome. Its primary purpose is to win some extra money. However, it is a gateway for casual sports fans to become more invested in the sport itself.
States without legal sports betting are leaving money on the table — and the numbers are staggering. According to Doc’s Sports, Texas could be generating nearly $500 million a year in tax revenue, and California is missing out on over $678 million annually. In total, the 12 non-legal states could generate more than $2.19 billion every year if they adopted the national per capita average of $17.15.
Overall Analysis
Sports betting can provide an economic boost to individuals’ bank accounts and emotions, and states’ GDP, tax revenue, and employment. So, if you’re wondering how Doc’s Sports carried out their analysis, the team looked at sports betting revenue across all 50 U.S. states and estimated how much each non-legalized state could be generating annually if they legalized and taxed sportsbooks at average market rates.
Final Thoughts
Sports betting is a great way to earn extra money while having fun and possibly paying more attention to a sport. However, it is important to stay safe and prevent a gambling addiction. You are at risk for a gambling disorder if there’s persistent, recurrent problematic gambling behavior leading to clinically significant impairment or distress. If so, please call the National Problem Gambling Hotline at 1-800-GAMBLER for support, resources, and treatment options available 24/7.
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