Should Sports Betting
Arizona sports betting opened last Tuesday and is already the second state-run sportsbook in the country. The owners have seen the light at the end of the tunnel and they’re planning to be a national sportsbook within a few years. To get there though they’ve had to overcome a lot of initial roadblocks. The first obstacle they faced was a tough legal issue in 2021 when the state Supreme Court ruled against them. The law would have allowed sportsbooks to offer sports betting to customers in other states, but they were restricted to running their operation in Arizona.
They went to work to get the law changed, but it took awhile. In the meantime the sports betting industry in Arizona was bombarded with negative publicity because of the increased competition from out of state sportsbooks. In January 2021 the three sports books in Arizona filed for bankruptcy, citing lack of funds and heavy losses to one particular book. It turned out that they were right, in terms of the legal issue, but not in terms of the customer service factor. That’s where New Jersey sports betting comes in.
New Jersey sports betting has been illegal since 1994, when the state took over the failed Lincoln Savings and Loan in an attempt to curb Wall Street fraud. A sports betting jackpot was to be awarded to the winning book. Since then the laws concerning sports betting in New Jersey have been tightened significantly. Only sportsbooks that register with the NBL (National Bookmakers) are allowed to run sports betting in Jersey.
Should Sports Betting Be Legalized in All 50 States?
So why did sports betting get legalized in New Jersey? Some say it was due to political pressure; others point to the success of the legalized sports betting industry. Others say that because of the success of the gambling industry in New Jersey, the state decided to take a hard look at sports betting, and saw how much money could be made without the legal loopholes that existed before. So essentially politicians saw an opportunity in front of them and legalized sports betting because they saw an opportunity to make a large amount of money for themselves. Many say this was one of the main reasons that led to the success of legalized sports betting, as there is no longer any place for shady business practices or illegal gambling.
My take on this is that sports betting should never have been legalized in any state, let alone New Jersey. I feel that because the sports books in New Jersey paid the extra money to have sports betting legalized in New Jersey, they should not be able to take the integrity fees from sports betting. I feel that they should not even be able to charge these integrity fees, as the government should not be allowing sports books to charge these high amounts of money if they are not following every single rule of the law.
But besides the fact that sports betting should not be legalized, it should not be legalized at all. If you want to bet in a sports book, then you should stand your ground with them and try to get the money you bet back. Do not go into a sports betting agreement and then back out on your bet. If you ever win on a bet at a sports book, then they should legally be able to take your money and run with it. They are taking an already illegal act and turning it into an even more illegal act by allowing people to wager large sums of money, and then not following all of the other rules that should apply. If you win, then you should be the one to keep all of your winnings.