States prepare to introduce online gaming bills
The issue of online gaming continues to heat up as it’s revealed this week that more states are preparing to legalize and regulate online gaming.
The news comes shortly after Sheldon Adelson hired more help to combat the growing issue of online gambling. In his eyes, online gambling is a terrible thing, feeds those that are addicted, and harms land-based casinos. In reality, online gambling is recreationally played, brings extra revenue into each state, and only complements land-based casinos.
Online gambling is currently legal and regulated in three states: Nevada, Delaware, and New Jersey. The states that are preparing to introduce online gaming bills are Pennsylvania, Massachusetts, Illinois, New York, and California. There’s been a lot of setbacks in Pennsylvania, but the issue moves forward.
If legalized and regulated in California, it could change the entire landscape of online gaming. California has roughly 38 million residents. Some lawmakers are hoping that legalizing online gambling will drive a ton of extra revenue to the financially-starved state. Online sites would likely offer promotions to drive in new traffic, such as no deposit bonus offers.
Pennsylvania is another state that would greatly benefit. In a report commissioned by the state of Pennsylvania, online gaming could bring in roughly $184 million in its initial year, then $300 million annually every year following that.
Though Sheldon Adelson is gathering a group of people to fight the legalization of online gaming, the movement continues forward. It’s estimated that if it’s legalized in three key states – Illinois, California, and Pennsylvania – the entire national situation will shift.
Of the three states where online gaming is currently legal, New Jersey is the most populated state, with eight million residents calling the state home. Illinois, Pennsylvania, and California all have at least triple that amount in population.
The interesting thing here is the fact that Sheldon Adelson may be powerless to stop it, despite being one of the richest men in the world. He created the Coalition to Stop Internet Gambling, and it’s funded by his nearly endless pockets, but the facts can’t be denied.
According to a study at Harvard, online gambling isn’t addictive, and most people bet responsibly. With the facts presented to him, it’ll be interesting to see how Sheldon Adelson reacts. He has long believed that online gambling would be the death of land-based casinos. He hasn’t taken into account that online gambling provides a significant revenue stream for states.
Though progress may be slow thanks to an endless supply of red tape by lawmakers, the quest to legalize and regulate online gaming continues. Once we see at least one more state legalize online gaming, it’ll be a quick decision for other states. That decision could come as early as later this year.
Interested in legislative approach’s pros and cons; curious how they play out nationally.