Why A Growing Gambling Industry Is Good For The US

The US has an odd relationship with gambling. Some parts of the country embrace it wholeheartedly, while others take a dim view of this particular pastime.

Irrespective of the differing legal positions that each of the states hold on the matter, the rise of online gambling has effectively settled the argument over whether citizens should have access to it.

Regulators can do little to stop Americans playing online, and brands like 888poker have effectively democratized the market, meaning anyone can enjoy table games, slots and other digital versions of land-based casino experiences via the web.

So what does a growing gambling industry mean for the US and how might it be a positive influence on the country, in spite of resistance to its rise in some quarters?

Economic Impact

You only need to look at Las Vegas to see the way that gambling can shape economies, both on a local and national scale. This desert city could not exist as the oasis of light, sound and entertainment that it is without the money that is spent by punters at its casinos. Thousands of jobs are reliant on the industry in Nevada, and many more will be created as the industry grows across the US.

The annual contribution made to the US economy by gambling activities is close to $140 billion. It is safe to assume that this will increase rapidly as regulations are loosened and more people have the opportunity to play land-based and online games alike.

America’s economy is currently enjoying rapid growth in its own right, which means that consumers have more disposable income in their pockets and more ways to spend it than ever before. The gambling industry is clearly benefiting from this fact, along with the increasingly liberal attitudes towards the services it offers.

That is not to say that it will be smooth sailing from here on out. As the generation of baby boomers enters retirement, there are concerns about how this will impact economic growth. Furthermore, President Trump’s plans to restrict immigration are likely to cause issues, since the US economy has effectively been buoyed up by an influx of younger people from other countries in recent decades.

Future Shifts

The wheels of the legislative branch of government are incredibly slow-turning, but the growth of the US gambling industry has been further assured by the recent overturning of the Professional and Amateur Sports Protection Act.

Bookmakers based in the UK are already circling the US, looking to jump in and take advantage of the likely legalisation of sports betting. Again this will take place on a state-by-state basis, but with an estimated $150 billion in illegal betting already occurring each year, there is clearly an ocean of interest in this type of service. Once it is all above board, it can be taxed, leading to yet more economic benefits and legitimate jobs.

Ultimately it seems likely that the US will eventually adopt a similar stance to Britain when it comes to gambling. The UK is unusual in Europe, as it offers unfettered access to bookmaking and casino services. From fruit machines in pubs to betting shops and a wealth of online brands, there are endless options for play available.

In particular it is the legitimate operation of online gambling sites in the UK that makes it an exemplar of where the industry might end up in the US and other western nations. There is no need for players to worry about whether they are going to be hit with fines or any kind of legal consequences for playing poker, blackjack or slots online.

In America, attitudes towards and the regulation of online gambling are a long way from matching this level of liberalism. It was only in 2013 that Delaware set the precedent of making it legal to place bets online, and only a handful of its counterparts have joined it in the interim.

Essentially the industry needs to build popular support and also gain the kind of political clout that other concerns have, allowing it to get across the message of its economic potential in Washington and catalyze the arrival of legalized nationwide online gambling.