My people, sports betting don burst everywhere! E be like say omo Naija don catch the betting fever wey dey sweep America!
You fit believe say last year alone, people wagered over $157 billion on sports? Na real gbege! E dey produce wetin dem call $3.2 billion for state tax, abeg na dollar wey state dey chop, no be small.
For December alone, Missouri join the train wey don dey legalize sports betting, na so e dey go. As e dey hot, wetin you dey wait for? States dey rush to open their own market, and experts believe say the money fit double again. Na real hustle be this o!
Once upon a time, sports betting no dey so easy, na only Las Vegas and Atlantic City dey rule am, but e change for May 2018 when Supreme Court jam dem law wey block am. Since then, states don dey jump enter the mat to regulate their own betting scene. Just like that, we get plenty states wey don open betting market, and many dey use their smartphone to place bets!
The tax wey dem dey collect from this betting matter na wah. States dey use am as motivation to support this new hustle, especially as dem wan make sure say people no dey run go illegal market wey no get protection. Na big money be this, and states wey never enter dis game dey lose many benefits.
But, make I yarn you, no be all states dey treat this tax matter the same. Some dey charge high rate, while some dey low, like Nevada wey just dey collect 6.75 percent. Wetin make dem states wey charge on top dey suffer na say if tax dey too high, e fit make betting no sweet again for people. Na this kind wahala dey make illegal betting dey shine.
As states dey figure out their own rules, dem dey also dey face how to run am with online and in-person betting. Some states dey give monopoly to certain companies, and that one fit limit wetin people fit do. Look Washington DC for example, dem don learn their lesson as dem change dem one contract wey no dey work well.
Now, with numbers everywhere, e clear say if all states dey use legal sports betting, we fit see GGR fit jump to about $15.6 billion more. That na serious cash for states wey go be win-win situation for everybody!
My pipo, make we check states wey don start and the odds wey dey fly now. For states wey get big population like California, Florida, and Texas, their taxes fit run into millions. Na opportunity be this for states to rake in cash for the social good. My heart dey burst with joy!
But e no go easy, as policymakers go need to set correct rules to make sure say betting safe, plus help people avoid wahala. Sports betting don gree enter our lives, and be sure, this na just the beginning!
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