US legal sports betting booms while iGaming falls behind

US legal sports betting booms while iGaming falls behind

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US legal sports betting booms while iGaming falls behind

The South Carolina Gamecocks won the women’s college basketball championship, while Purdue and UConn will play for the men’s NCAA title.

This season, bettors have already wagered billions of dollars on college basketball games. An estimated 2.72bn dollars will be wagered during March Madness, nearly twice as much as last year’s Super Bowl, according to the American Gaming Association.

States are receiving more money from legal sports betting in the form of taxes. Illegal online gambling, on the other hand, continues to be a problem, costing states billions in lost tax income. Millions of Americans are switching from illegal gambling websites to legal sportsbooks, according to Cait DeBaun of the AGA. This shift creates tax revenue for local governments and funds state needs.

Legalising online gambling can bring in hundreds of millions of dollars in tax income for some states, like Illinois. The effects of online gambling, particularly on young people and those who are prone to gambling addiction, is an area of concern, though. Illinois is considering legalising online casinos, which would provide games like online poker and roulette, according to iGaming lawyer Jeff Ifrah.

NIcasa Behavioral Health Services’ Elizabeth Thielen has stayed away from gambling for more than a decade. She claims that a growing number of people are seeking treatment for gambling addiction and that online gambling should not be taken into consideration due to its potential for harm, particularly to minors.

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