Online Gambling And Sports Betting Were Meant For Each Other
Sports betting and online gambling, the two master gambling practices have grown enormously in recent years. Both have shown the potential of growth if nourished properly.
Legislatures, unfortunately, have made gaffes that are stopping them from being beneficial to their extent. The following factors have enforced them to be constrained to the market:
- Burdened tax policy
- High licensing fees
- Failure of embracement and proper promotion
However, experts say that sports and online gambling are likely to perform even better if stirred together. Separation of these two practices has put them into a vacuum.
Here is why the designated need to burst the bubble.
Casino giants have made it clear through their stats that online casino gambling and sports betting are almost destined to benefit the state hugely if put and embraced together. An online casino can yield high revenue if legalized. When offered with sports betting the opportunity to make money multiplies instantly. Experts also believe that if online gambling and sports betting go hand-in-hand, it will reduce unregulated bets contributing to the state revenues.
Superfluous diversified regulations
Taken together, sports betting and online casino require the same regulations. Any regulatory body may not need to include a new set of rules and policies for the legalizing and implementation of both the practices together. The basic regulations are superimposing.
- NO separate player accounts needed.
- Both can be supervised by Anti-Money Laundering.
- Geolocation and player verification
- Rules that bother game integrity and fair play.
The symbiotic relationship between online gambling and sports betting
The deployment of online gambling and sports betting will be profitable for the legislative. Research in the United States state that the state could add a sum of $6 billion or more by legalizing and deploying together both the practices. It is like sports betting and online gambling are made for each other and the lawmakers have been stopping them from being together.
A case study on New Jersey, where online casino and sports betting were brought together, shows that the state has seen unprecedented growth. Earnings and establishments of online casinos and sports betting are evident enough to prove that the coexistence will be highly beneficial.
How can it all be done, you ask?
The answer to this lies in the examples that prove the benefits to be practical and give this deployment a try.
Legalizing online casino and sports betting to be played under-a-roof will help generate revenue, extraordinary in size. If New Jersey, was to stick with the old plans and policies, it would have never seen such unseen growth in the revenue.
Online casino, on one hand, is the future of casino gambling. It has brought new customers and has facilitated connection with the old land-based casino customers. All businesses are customer-driven and hence anything that brings more customers in the house is its sole influencer.
Sports betting, on the other hand, has already seen legalization in the past few years in many states of the United States, with Iowa being the latest to legalize it. The governments have started to see the potential
The bottom line is, with so many references to prove online gambling and sports betting’s hyper-effective revenue generation, a need to legalize and bring together the two gambling practices is the need of the hour.
SummaryName: Online Gambling And Sports Betting Were Meant For Each Other
Author: Ashley Spring
Published Date: 12/06/2019