Why Sportsbooks Would Flock to the US upon Decriminalization

Why Sportsbooks Would Flock to the US upon Decriminalization

Joe Duffy (JoeDuffy.net)

As reported on CasinoBettingNews.com, both CNBC and the Wall Street Journal conducted surveys that showed an overwhelming 9-of-10 Americans favor fully legalizing online gambling.

I’ve pointed out if the US government did something really extraordinary and listened to the will of the people; tax revenue from online casinos could be used to fund Social Security or education.  Crazy ideas, I know.  

Even supporters of your right to choose to bet will point out that online sportsbooks and online casinos could still set up shop outside the US and circumvent taxation.

At JoeDuffy.net, we believe there are at least two major forces that would make that unlikely: market forces and government protection.

BetOnSports, the target de jour of the Department of Injustice’s crackdown on civil liberties, reports about 80 percent of their sportsbook business came from the United States before the “Tobetaman Square Massacre”.

American pointspread bettors would feel much more secure placing their online sports bets with a company that was regulated inside of their borders. “Even those of us who do not have a great deal of faith in our government, generally have a favorable view of the current land based casino control commissions” said Stevie Vincent of KnockoutPicks.com.  Cy McCormick of the online handicapping syndicate AllianceHandicapping.com added, “Regulation means credibility”.

What do we mean by “government protection”?  In this fantasy of Big Brother giving you the right to choose to gamble online, certainly the “no taxation without representation” applies.

Several years ago, online sportsbooks faced DoS (Denial of Service) attacks from Russian mafia hackers.  The hackers demanded “security protection” from the online casinos and for the most part got their ransom.

Eventually, the extortionists were caught, but with no help from the FBI. The hackers knew offshore books would get no relief from United States law enforcement. Once the US government legitimized online gambling, American based companies would have the same law enforcement protection as Ebay or Amazon.

Finally, American land based casino giants would aggressively pursue the online avenue once our government decriminalizes this legitimate activity. All but guaranteed to be major players when it came to online betting, their motivation to circumvent taxation would be minimal.

But who wants to fund social security anyway?

 

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