January 29, 2023 Breaking News, Latest News, and Videos

What Legalizing Online Sports Betting Will Mean For California

Online sports betting has become a very popular sports entertainment activity for the past few years now. Nowadays all the best online casino platforms are offering their services like sports betting epicenters as well, given the vast popularity that this wagering activity has amassed not only in the US but around the world as well. 

Given that this industry has proven time and time again to be one of the most lucrative and popular amongst younger audiences, it’s baffling that it has taken the US so long to finally legalize sports betting activities. But as time continues to go on and more and more states have either already legalized online sports betting activities or are well on their way to legalizing them, like California for example, we bring you a list of the benefits that legalizing online sports betting ventures will bring to the state of California once it’s fully legalized come 2022.

There Will Be An Automatic Boost For The Economy

While many people have taken their time to chastise sports betting activities, the fact of the matter is that sports betting has been going on for as long as sports have existed, and while the industry has managed to not only cement its status as one of the most important business models in the world of sports entertainment, they have managed to become a multi-million-dollar revenue grossing industry as well. While all that sounds amazing, the reality of the matter is that most of that money is earned by international online betting companies, given that in the United States, up until recently, online sports betting activities were deemed illegal. Of course, that didn’t stop American betting fans from getting their fix, taking their business to the previously mentioned international online betting companies.

Now, thanks to the realization that online sports betting activities can be more beneficial than harmful for everyday American citizens, states who have already legalized said ventures are starting to see the very positive economic results behind their actions. Given the massive influx of revenue that stems from taxation fees and consumer revenue streams that state governments have been able to collect from the newly welcomed online sports betting companies, this has automatically worked out as a perfect injection of revenue into the economies of states that have been badly hit because of the Covid-19 pandemic. Now, I might not be an economic wizard, but if welcoming one of the new flourishing industries into my state will automatically mean an immediate monetary boost, sign me up and slap me for taking so long to figure it out.

A Much Needed Initiative For Job Creations Will Get Going

One of the main ways in which the Covid-19 pandemic struck not only the American economy but the global one as well, was in how shockingly high the unemployment rates skyrocketed. While dealing with unemployment issues has always been something that has tarnished the functionality and success of different governing bodies, both local and national, thanks to new, up and coming industries, such as what the online sports betting industry is for the US, a whole new niche of employment options has surfaced. Of course, the states that have managed to benefit from said employment possibilities are those that have already finalized the legalization of online sports betting ventures, serving as perfect testimonials for all other states still battling through the motions of finally adopting online sports betting as a legal business undertaking. 

It is estimated that California’s unemployment rate is off about 7.5%, so in a way, legalizing online sports betting activities, it will not only open up a whole new job market for people who want to specialize in the world of sports gambling itself, but it will also benefit young professionals in the fields of digital design, advertisement, marketing, software engineering, and many other tech-related professions. Taking into account how difficult and competitive the job market is right now, especially with more and more new professionals hitting the streets looking for opportunities to either start or further their careers, having a blooming and revenue effective business endeavor like online sports betting activities be legal and functional in the state of California would automatically convert into better employment rates as well as a more prosperous economy. In summary, once online sports betting activities are legalized, it will be a win-win situation for everyone involved.

in News
Related Posts

SMa.r.t Column: Widespread Issues Put Santa Monica in Danger

January 28, 2023

January 28, 2023

Following are 5 issues which, along with homelessness and crime, should take priority over all else in our city’s immediate...

1980s Rustic Canyon Home Hits the Market for $7.5 Million

January 28, 2023

January 28, 2023

Property checks in at over 5,000 square feet featuring five bedrooms By Dolores Quintana A home designed by fine artist...

New Two-Story Commercial Building Proposed for Main Street in Santa Monica

January 28, 2023

January 28, 2023

Project at Marine and Main would replace current parking lot A new two-story commercial building has been proposed for Main...

260-Acre Property Comprising 6% of Bel Air on the Market!

January 27, 2023

January 27, 2023

Last-ditch effort to sell Senderos Canyon spread By Dolores Quintana Bel-Air, one of the most exclusive neighborhoods in the United...

Massive 24,000-Gallon Raw Sewage Leak Closes Local Beaches

January 27, 2023

January 27, 2023

Wednesday leak near Admiralty Way and Palawan Way cause of closures A massive 24,000-gallon raw sewage leak shut down several...

Debris Washed Ashore at Santa Monica Beach

January 27, 2023

January 27, 2023

Debris Washed Ashore at Santa Monica Beach During Last Week’s Storms. @smmirrornews Debris Washed Ashore at Santa Monica Beach During...

Popular Health-Conscious Restaurant Closes Downtown Santa Monica Location

January 26, 2023

January 26, 2023

Flowerchild no longer at 1332 Second Street By Dolores Quintana A popular health-conscious restaurant has shut down its Downtown Santa...

Iconic Roscoe’s Chicken ‘n Waffles Shutters its Pico Location

January 26, 2023

January 26, 2023

LA-based chain to focus on flagship on La Brea and Washington By Dolores Quintana For everyone who loves Roscoe’s Chicken...

Santa Monica Road Rage Incident Results in Shooting and Arrests for Attempted Murder

January 25, 2023

January 25, 2023

Manuel Jaramillo-Heredia and Emilio Reyes were arrested in connection to Tuesday incident By Sam Catanzaro A road rage incident escalated...

Column – A California Positive: Kids Swarm Extra Classes

January 24, 2023

January 24, 2023

By Tom Elias It’s become a cliché, the shibboleth that California has lousy public schools and most of the kids...

New Sourdough Bagel Shop Now Open in Ocean Park

January 24, 2023

January 24, 2023

Layla’s Bagels by chef Sergio Espana (formally from Tartine and Gjusta) has opened a shop on Ocean Park. @smmirrornews New...

Westside Food Bank Struggling to Find Eggs

January 24, 2023

January 24, 2023

Avian flu outbreak and inflation have been driving these shortages Westside Food Bank is turning to alternative suppliers to try...

St. Joseph Center President & CEO Leaving Organization to Lead LAHSA

January 24, 2023

January 24, 2023

25-year veteran of St. Joseph Center will service as serve as CEO of the Los Angeles Homeless Services Authority Dr....

Michigan Man Extradited to Santa Monica for Beach Parking Lot Murder

January 24, 2023

January 24, 2023

Mohamed Abou-Arabi faces murder charges for November killing By Sam Catanzaro A Michigan man has been extradited to Santa Monica...

Million Dollar Listing To Sell Local Luxury Estate: Santa Monica Real Estate Report – January 23rd, 2023

January 23, 2023

January 23, 2023

Property, Developments, And Listings On The Westside.* Million Dollar Listing To Sell Local Luxury Estate* New Data Shows Luxury Brick...