When debating sports betting in the United States, it’s hard to leave New Jersey out of the conversation. The Garden State has made waves in the gambling community in recent years, and it is known as one of the main gambling hubs in America. Whether you’re into traditional casino games or modern digital gaming, New Jersey will have you covered.
One area of gaming that New Jersey has sunk its teeth into lately is online sports betting.
This fast-paced, fun form of gambling has not been legalized everywhere yet, so New Jersey is considered ahead of the curve right now. This state is truly full of thought leaders and innovators when it comes to modern gaming.
But why has New Jersey legalized this form of gambling if other states are so fiercely opposed to it? That’s what we will be taking a look at today.
Here at the Sports Gossip, we’re always on the lookout for the latest and greatest in the sporting world. Today, we’re going to be taking an in-depth dive into the world of online sports betting, and how it has benefitted the state of New Jersey since being legalized there.
Higher tax revenue for the state
One of the main benefits of legalizing online sports betting that New Jersey has enjoyed is a massive influx in tax revenue for the state. The introduction of legal vendors and companies has encouraged more and more people to start gambling. This, in turn, has bought more regulated, on-the-books money into question for the gambling world.
In comparison, states where online sports betting have no way of knowing how much money is being earned by illegal operations until they’re shut down. Legalizing online sports betting allows the government to keep tabs on earnings and allows the money in question to be used productively for the state.
More tourism and gambling visitors
Another great benefit that New Jersey has been enjoying is an influx of more gambling tourists. As we noted earlier on, not every state in America has legalized online sports betting yet. As a result, people are much more willing to travel to New Jersey and bet there, instead of risking betting illegally in their own states.
A great example of this is New York. New York has not fully legalized online sports betting yet, and as a result, New York gamblers frequently travel to New Jersey to gamble instead.
Creation of more employment opportunities
Something great that has come out of the legalization of online sports betting is the creation of more jobs and employment opportunities. This has helped to support local residents, and to lower unemployment rates in New Jersey as well. Smaller businesses and casinos have also had the chance to shine, as they have been getting involved with online betting too.
This has had a knock-on effect on the economy as well. The rise in new jobs and smaller businesses has been very positive for New Jersey’s financial state as a whole.
Supported popular local casinos
As noted in the previous section, the legalization of online sports betting has also been positive for casinos as well. Plenty of casinos have used the online sports betting boom to hone their services, and to gain a better understanding of their customers as well.
Casinos and betting shops who can’t adapt in this fashion will certainly struggle as we get further through 2020. The gambling industry is constantly changing and adapting, with new gambling companies and startups being created every month. Being able to survive the digital world is one of the hallmarks of a successful company in any industry, not just gambling.
Reduced malpractice and scams
A final benefit that New Jersey will have seen from legalizing online sports betting is a reduction in scammers and fraudsters in the gambling scene. They do exist, and it’s hard to spot nefarious companies when the law is not protecting customers. However, with this legalization, New Jersey officials will have been able to stomp out gambling malpractice with much more ease.
Generally speaking with this legalization, gamers can feel a lot safer while they play. There is more regulation and protection for gamblers nowadays than ever before, which means that it’s a great time for new gamblers to start exploring the industry.
To sum up
As you can see, the legalization of online sports betting has been an incredibly positive thing for New Jersey. It’s been great for businesses and for the government, it’s benefitted gamers in the state and even those who are visiting from outside of New Jersey. It just goes to show that with proper regulation and enforcement, gambling can be a wonderfully beneficial thing.
If you’re on a hunt for a handy list of all the legal online sports betting providers in New Jersey, take a look here to find out more.
It’s interesting to see which states and countries have legalized online sports betting so far, and to look at those who have not. It’s likely that we will see more countries and states moving towards legalization as we head throughout the year. This is a constantly moving industry, and it certainly won’t look the same by the end of 2020.
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