What’s So Good About the New Gambling legislation?

Sports betting is shaping up to be the big, multi-billion dollar industry of the decade. A big reason for this is the recent surge of laws being passed that allow online gambling in more parts of the world. The United States, in particular, is really jumping aboard the online gambling train. But Canada isn’t too far behind, especially with the latest happenings in Ontario.

Ontario made a change to its gambling laws last year that opened up the rights to multiple betting companies, where until recently one dominated the market. By bringing choice to Ontario online casinos, the province is widening the availability and attracting new users. This, combined with a larger world interest in sports betting apps, is doing amazing things for gambling as an industry. But why is it good? 

Why Online Gambling Is A Big Deal Now

Online poker and slots have been around for some time, but only recently have they seen such attention. Part of the reason was the pandemic-induced lockdowns–people trapped at home needed something to do. Online gambling provided a convenient, addicting hobby. Once it became clear how much money could be made, more countries warmed up to the idea. 

In the US, a law called PAPSA put a federal prohibition on sports betting outside of Las Vegas. The Supreme Court repealed PAPSA in 2018, and many states were swift in introducing laws to legalize sports betting and online casinos in the following years. The few that managed to get these votes accomplished in early 2020 reaped rewards during the height of stay-at-home orders. Then, in 2021, more states saw the dollar signs and followed suit. Now, the majority of the US allows online sports betting. 

Canada has had legal online gambling for a little while, but no doubt it saw the success of its neighbor to the south. Following suit, Ontario is expanding the scope of its online casinos and sports betting platforms. 

Money Talks

When the government allows gambling, it tends to get a cut of the profits in the form of taxes. That’s the very simple reason for why new gambling legislation is beneficial. It gives more money to the state/province that can be used for improvements. The expansion of betting platforms also helps create jobs as more staff is needed to maintain the apps and man the betting stations installed in stadiums. 

In the US, data shows that most states draw in millions of dollars in online gambling revenue a month. New York is an astounding case, making billions in the few weeks since sportsbook apps went live in early January. Of course this is the revenue brought in by the gambling companies. The state gets a fraction of that, which is still a lot. 

Easy Money

Perhaps the best part of online gambling revenue is that it comes fairly easy. The betting platforms use the same sportsbook apps and casino websites wherever they are legal, so it doesn’t take much work to introduce a new province or country. And once they’re up, the players put in most of the effort by picking their game and wagering their money. The most work probably goes into advertising so that more people know online betting is legal now. As for the governments, the most work goes into getting the laws written right. That can be a lengthy process, but once the laws pass, the money pours in. 

And really, it’s that simple. A lot of people want to gamble, and the convenience introduced by app-and-computer based casinos is giving more access than ever before. All the new legislation needs to do is open the doors to the digital casino, and the customers do the rest.