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States with the most to gain from legalized sports betting

  • States with the most to gain from legalized sports betting

    Whether the government likes it or not, illegal sports gambling is something that exists and economists estimate that the industry is worth up to $500 billion dollars worldwide today. In spite of this, gamblers and sports enthusiasts alike have pushed for legalization in recent years in order to cut out some of the dangers associated with unregulated wagers, and has since inspired the recent Supreme Court vote in favor of overturning the 1992 law which made sports betting illegal in any state except for Nevada. With the decision now in the hands of individual state governments, people in states all over the country are now debating the positives and the negatives associated with the prospect of their state legalizing regulated sports gambling.

    Proponents of nation-wide legalization have argued that regulated sports betting would enhance the fans’ consumption of professional sports because it would not only provide added incentive to watch the games, but it would simply provide fans with a more geographically convenient means of doing the same thing that has been going on legally in Las Vegas since 1931. In the minds of many, however, the glaring hole in this argument is the fact that having gambling of various kinds restricted to Nevada for all these years has helped potential addicts treat the institution as an occasional vice, whereas widespread legalization would offer addicts a vehicle by which to throw their life savings away all too easily and regularly.

    While there is a wide array of differing opinions pertaining to the pros and cons from a consumer perspective, what about the government benefits? State governments not only stand to gain hundreds of millions of dollars in sales and additional tax revenue if they were to legalize sports betting in their respective state, but are also likely increase the job count for their citizens in desperate need of work.

    Using a recent study from Oxford University, Stacker analyzed the estimated financial implications of every state’s prospect of legalizing regulated sports betting. Read on to learn how much your state could benefit from legal sports gambling.

  • #51. Arkansas

    Estimated total sales: $149 million (per capita: $65.36)
    Estimated jobs gained: 971
    Estimated jobs gained per 100 unemployed persons: 1.88
    Estimated state tax revenue: $18.4 million (per capita: $8.08)
    Estimated state gambling tax revenue as a % of 2017 overall state tax revenue: 0.19%


     

  • #50. South Carolina

    Estimated total sales: $251 million (per capita: $65.67)
    Estimated jobs gained: 1,618
    Estimated jobs gained per 100 unemployed persons: 1.65
    Estimated state tax revenue: $32.0 million (per capita: $8.36)
    Estimated state gambling tax revenue as a % of 2017 overall state tax revenue: 0.34%


     

  • #49. Kentucky

    Estimated total sales: $230 million (per capita: $67.47)
    Estimated jobs gained: 1,441
    Estimated jobs gained per 100 unemployed persons: 1.74
    Estimated state tax revenue: $27.0 million (per capita: $7.92)
    Estimated state gambling tax revenue as a % of 2017 overall state tax revenue: 0.22%


     

  • #48. Tennessee

    Estimated total sales: $371 million (per capita: $72.32)
    Estimated jobs gained: 2,315
    Estimated jobs gained per 100 unemployed persons: 2.09
    Estimated state tax revenue: $42.6 million (per capita: $8.31)
    Estimated state gambling tax revenue as a % of 2017 overall state tax revenue: 0.28%


     

  • #47. Vermont

    Estimated total sales: $37 million (per capita: $72.42)
    Estimated jobs gained: 234
    Estimated jobs gained per 100 unemployed persons: 2.44
    Estimated state tax revenue: $4.7 million (per capita: $9.30)
    Estimated state gambling tax revenue as a % of 2017 overall state tax revenue: 0.15%


     

  • #46. Georgia

    Estimated total sales: $575 million (per capita: $74.19)

    Estimated jobs gained: 3,347

    Estimated jobs gained per 100 unemployed persons: 1.51

    Estimated state tax revenue: $63.8 million (per capita: $8.23)

    Estimated state gambling tax revenue as a % of 2017 overall state tax revenue: 0.29%

  • #45. Utah

    Estimated total sales: $162 million (per capita: $76.27)

    Estimated jobs gained: 1,010

    Estimated jobs gained per 100 unemployed persons: 2.08

    Estimated state tax revenue: $17.6 million (per capita: $8.29)

    Estimated state gambling tax revenue as a % of 2017 overall state tax revenue: 0.23%

  • #44. Alabama

    Estimated total sales: $291 million (per capita: $77.46)
    Estimated jobs gained: 1,902
    Estimated jobs gained per 100 unemployed persons: 2.29
    Estimated state tax revenue: $37.2 million (per capita: $9.92)
    Estimated state gambling tax revenue as a % of 2017 overall state tax revenue: 0.37%


     

  • #43. Hawaii

    Estimated total sales: $84 million (per capita: $77.79)
    Estimated jobs gained: 448
    Estimated jobs gained per 100 unemployed persons: 3.20
    Estimated state tax revenue: $10.8 million (per capita: $9.98)
    Estimated state gambling tax revenue as a % of 2017 overall state tax revenue: 0.15%


     

  • #42. North Carolina

    Estimated total sales: $627 million (per capita: $80.64)
    Estimated jobs gained: 3,903
    Estimated jobs gained per 100 unemployed persons: 1.78
    Estimated state tax revenue: $72.9 million (per capita: $9.38)
    Estimated state gambling tax revenue as a % of 2017 overall state tax revenue: 0.27%


     

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