The prestigious British magazine The Economist stated that the increase in the amount of online betting in the United States should be celebrated, not feared. The article on the topic occupies the cover of its international edition. According to the publication, the practice in the country is driven by easy access to technologies, the social act of playing, and the lack of regulation of the sector in recent years.
“Much about today's gaming boom should be celebrated as an expansion of people's freedom to lead their lives as they choose [...]. Freedom is not measured only by freedom of speech and politics, but also by the ability to spend your money as you wish,” says the text from the Economist.
According to research cited by the Economist, the profile of the typical sports bettor in the United States makes the action financially less dangerous to families. They state that 44% of gamblers are young men who earn more than $100,000 annually.
This financially stable profile of gamblers makes the growth in the number of games less harmful to North American society and to the players, who are expected to bet almost $150 billion in 2024, compared to $7 billion in 2018.
It is expected that up to $630 billion will be allocated to sports betting and online casinos by the end of the decade.
The growth is not exclusive to the United States. The Philippines, Poland, and China have decided to regulate the betting sector instead of banning it.
According to the British magazine, this is good because it reduces the chances of bettors becoming addicted in an underground market with the potential to put them at risk.
“Criminalizing gambling would deprive tens of millions of people of entertainment and would drive the more compulsive gamblers underground, where they would be more vulnerable to abuses,” says the publication.
Source: GMB
