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 hit, the legalization of online casinos could be the answer to save the industry. One important development took place a few days ago, when the US Department of Justice chose to not pursue the 2018 Wire Act opinion. This does not mean online casino and poker games are now legal across the US.
It does, however, allow US gaming and lottery operators to pursue legalizing these games in their respective states without fear of prosecution. New Jersey Attorney General Gurbir Grewal said the DOJ should “lift the fog of ambiguity” over online gambling. New Jersey is asking the Biden Administration to declare online gambling legal, and it is no coincidence that one of the states where online gambling is legal at the moment is New Jersey – it is the largest market for regulated online gambling in the US, worth more than $225 million per year.
As highlighted on mobileuscasinos.com, we can see that NJ is still thriving with legalized online casinos and their positive experience is something that needs to be replicated across the country.
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 US market would be worth billions of dollars, and as we are seeing with the example of sports betting, which has recently been legalized in many states, there are millions of Americans waiting to engage with the sector, provided that they are given a legal way to do so.
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.
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