Essay
Sports betting has been legalized in 38 different states in the United States. One of its advantages that other states have found is bringing in tax money. This bill states that there will be a 15 percent tax on all sports betting wagers. Illinois has the same 15 percent tax as this bill proposed. In an article by WTTW News, they state; “In Illinois, gamblers bet a total of $11.6 billion in the Illinois sports wagering market, yielding $1.5 billion in gaming revenue for 2023”. This tax money can help fund essential public services.
In addition to the money that this bill would bring in for the state, it promotes protecting consumers and promoting responsible gambling. The bill enforces strict standards and ensures that no fraud is involved. Money that is made from taxes goes toward rehabilitation programs.
This bill gives Minnesota sports fans a new form of entertainment that they have never had before. Sports betting allows fans to connect with their favorite teams or athletes. It will bring fans closer together.
Despite all of the positives, you can’t talk about sports gambling and not mention addiction. Gambling addiction is a major problem in the United States. There are programs to help with it, but they only work if people go through with it.
Cited:
Keenehan , Sean. “Legalized Sports Betting Boom Comes at Cost to Gamblers and Their Households, Studies Show.” WTTW News, news.wttw.com/2024/10/21/legalized-sports-betting-boom-comes-cost-gamblers-and-their-households-studies-show. Accessed 27 Oct. 2024.
