You might be surprised to hear that, in the USA, gambling is only legal in five of fifty states.
As a bastion of liberty and freedom across the globe, the fact that a simple game of cards or using an online slot game is illegal in America can be a shock to many.
The question is; why? With the online casino industry growing at an exponential pace, the status of gambling in the US does not seem to make financial sense. The US economy has been doing well lately but with the inevitable downturn post-COVID-19 set to arrive any day now, could online casino legalization be the answer?
In this article, we will take a look at how the legalization of online casinos could boost the US economy.
Is gambling illegal in the U.S.?
Throughout the US, the federal wire act means that most types of gambling are illegal in all but five states. Yet in 2018, the Supreme Court flipped a 1992 ruling that made sports betting illegal across the nation.
Many now hope that laws around gambling will calm. Most sources agree that illegal gambling in the US is worth around $150 billion per year. As such, many are calling to legalize an already popular hobby. If this does happen, sites such as www.newcasinosites.me.uk will help Americans decide which are the best sites to play at.
How might online casino legalization boost the U.S. economy?
If the USA can legalize online gambling nationally, the economic impact could be enormous. Very soon after any ruling, fresh online gambling enterprises would pop up across the nation, generating millions, if not billions of dollars that will go towards propping up the US economy.
Legalization could create thousands of new jobs, not to mention the tax dollars that the government would benefit from.
If 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 falling by the wayside as a result of COVID-19, new jobs are a must at this tough time.
The reality is that many people already use online casinos in the US, simply logging on to sites based elsewhere. If the US legalizes online gambling, they will simply be able to reap the financial gains of this lucrative industry. Millions of Americans gamble every year and the government, not to mention the wider economy, is not profiting how it could.
Overall, it can be said that the legalization of online casinos could boost the US economy massively. The creation of jobs, as well as the generation of billions of dollars in GDP as well as tax dollars, would offer the national economy a boost at a precarious time in its history.
Whether the U.S. government will be brave enough to go ahead and make moves toward legalizing online casinos remains to be seen, yet the fact that so Americans already use foreign sites means the decision should be a no-brainer!