How Legalizing Online Casinos Could Boost The U.S. Economy – Blog
You might be surprised to learn that in the United States, gambling is only legal in five of the fifty states.
As a bastion of liberty and liberty across the globe, the fact that a simple card game or the use of an online slot machine is illegal in America can come as a shock to many.
The question is; Why? With the The online casino industry is growing at an exponential rate, the status of gambling in the United States does not make financial sense. The US economy has been doing well lately, but with the inevitable post-COVID-19 slowdown expected to happen overnight, could legalizing online casinos be the solution?
In this article, we’ll take a look at how legalizing online casinos could boost the US economy.
Is gambling illegal in the United States?
Across the United States, federal cable law means that most types of gambling are illegal in all but five of the states. Yet in 2018, the Supreme Court overturned a 1992 ruling that made sports betting illegal across the country.
Many are now hoping that the gambling laws will calm down. Most sources agree that illegal gambling in the United States is worth around $ 150 billion a year. As such, many are calling for legalizing an already popular hobby. If this happens, sites such as www.newcasinosites.me.uk will help Americans decide which are the best sites to play on.
How could legalizing online casinos boost the US economy?
If the United States can legalize online gambling nationwide, the economic impact could be huge. Very soon after a decision, new online gaming businesses would spring up across the country, generating millions if not billions of dollars that would go to support the U.S. economy.
Legalization could create thousands of new jobs, not to mention taxpayer dollars the government would benefit from.
So the United States, like Great Britain and Spain, can become a hotspot for online gambling. The economic impact could be huge and with so many jobs being abandoned as a result of COVID-19, new jobs are needed at this difficult time.
The reality is that many people are already using online casinos in the United States, simply logging into sites based elsewhere. If the United States legalizes online gambling, it will simply be able to reap the financial rewards of this lucrative industry. Millions of Americans gamble every year and the government, let alone the economy in general, isn’t profiting in the way it could.
All in all, it can be said that the legalization of online casinos could massively boost the US economy. Job creation, along with the generation of billions of dollars in GDP as well as taxpayer dollars, would provide a boost to the national economy at a precarious point in its history.
It remains to be seen whether the US government will be brave enough to move forward and take action to legalize online casinos, but the fact that Americans are already using foreign sites means the decision should be obvious!