What Will Legalized Gambling Do to Bookies?

Deciding to bet on sports is one of the most exciting things a person can do in their lifetime, but also one of the most dangerous. Now that sports betting is becoming more and more popular, lawmakers and lobbyists are trying to find a way to regulate and control it. One of the most intriguing proposals comes from Delaware, which has legalized sports gaming. If this sounds like something you’re interested in, continue reading.

Why Delaware?

Delaware is an enticing option for those interested in placing sports wagers because the state has legalized gaming on certain events, including college and professional football, baseball, and basketball. The state of New Jersey also recently approved a bill to allow for limited sports betting. And, of course, there’s always the option of going to Vegas if you want to place a wager on the World Series odds or the Super Bowl favorites.

Enthusiasts of the sports world will enjoy the variety of games that can be bet on in Delaware, but it’s important to remember that not all of the state’s residents will benefit from sports betting. While the legislation allows for certain types of gaming, it also restricts non-sports betting activity. For instance, casino games like blackjack and roulette are allowed, but most forms of poker are not. And even some of the legalized sports betting allowed in the state can’t be played for money. The law specifically prohibits the use of credit cards for gambling activity.

Impact On Bookies

Because of the risks involved with sports betting, it’s important to consider how legalization will impact the bookmaking industry. According to a recent study by the American Gaming Association, 19.9 million American adults now gamble regularly, and that number is projected to reach 28.9 million by 2025. That’s a lot of people gambling, and it means there will be a lot of money to be made by someone who can facilitate that activity.

Although the exact numbers aren’t available, it’s safe to assume that most, if not all, of those regular 19.9 million American adults will be interested in sports betting. And it’s also a safe bet that many of them will be reluctant to play without risking money. Therefore, it’s likely that the majority of sports betting will occur legally, in states that have approved legislation. This is a key consideration for bookmakers because, as we’ve established, not all of those people will be good clients. Some will abuse the system and potentially damage the bookie’s reputation along with that of the sports team they root for.

What About Unlawful Internet Gambling?

One of the biggest scams that gamblers get caught up in is when they think they’re playing on a legitimate site, but they’re really playing on an unlawful internet casino. These websites may look like regular casinos from the outside, but all of the games are actually designed to scam and fleece players. The operators of these websites generally hide behind a curtain of encryption to avoid being held accountable by the law. They’ll ask you to register with your credit card or to use real money to place bets—legitimate-looking websites that is.

The authorities have also become aware of these scams and unscrupulous operators. The UK Gambling Commission cracked down on 11 online casinos in September 2017, and it sentenced seven people to prison. The Commission also ordered the companies to pay £135 million in back taxes and penalties. These are just some of the repercussions that can come with doing business in Europe; speaking from experience, it’s not a place to play if you want to keep your money.

Back in the US, the Federal Bureau of Investigation (FBI) has also ramped up their efforts to combat online gambling, raiding multiple websites and shutting them down. It’s important to note that these websites were often targeting American players, so the legislation in the US may have prevented the FBI from seizing the companies’ assets, but it didn’t stop them from shutting down the sites. There are also various proposed bans to prevent unlawful internet gambling, including some that would prevent sites based in certain countries from operating at all.

Who Benefits From Legalized Gambling?

As we established earlier, 19.9 million American adults gamble regularly, and many of them will be applying their newfound fiscal responsibility to wagering. Because sports betting is officially legal in Delaware, it will be easier for them to do so, and it’s likely that more states will follow suit. It’s also possible that some gamblers will look to Delaware to determine which kinds of sports they can bet on because the state has legalized a variety of sporting events.

However, even if you place your wager in the proper forum, you’re not guaranteed to win. Like any other game of chance, there’s always the possibility that you could lose. But when you consider the possible outcomes and the level of risk involved, it’s not hard to justify why some people might find this form of gambling appealing. Just remember: the line between winning and losing is always blurry when it comes to gambling.

Where Can I Place My Wager?

An important consideration when deciding where to place your wager is whether or not the activity is legal where you are. Even in places where it’s perfectly legal to place wagers, there’s still a chance that you could be breaking the law. And, of course, there’s always the chance that you might lose.

It’s a good idea to check with the state or country’s legislation on online gambling before getting started. If you’re in the United States and it’s currently illegal to gamble online, for example, then it’s best to avoid all forms of online gambling. You could find yourself in legal trouble, even if you’re doing nothing illegal.

Final Takeaway

Legalized gambling has the potential to be a goldmine for bookmakers, but it also has the possibility to be a wildland of scams and illegal activity. It’s a delicate balance, and it’s something that bookmakers and legislators will have to contend with as this form of gambling continues to grow in popularity.