Online sportsbooks have become extremely popular in the past couple of years. Millions of people from all around the world started favouring them over land-based bookmakers due to the fact that they have tons of advantages. Each day, thousands more join the network as they are looking to have fun and test their knowledge on various sports events.
Because online sportsbooks are still new to the market, many countries do not have specific laws through which they can regulate them, hence they are formally illegal. We wanted to take a look into this case and explain some of the benefits that both players and the government would experience by legalizing them. Let’s check the details.
Betting Advantages for The People
As mentioned above, online bookmakers have numerous advantages over land-based bookmakers. They are extremely easy to access, operate 24/7, have numerous accepted payment methods, but most importantly – they are very secure.
Betting sites use an AI security system that is known as an SSL-encryption software. This software turns all the received data from players into unbreakable codes. In doing so, it keeps the players safe while they are browsing the sports categories. Speaking of the sports categories, online bookmakers have pretty much every category that you can think of – football, basketball, table tennis, and even e-sports. All of them are just a few clicks away and if you are willing to bet out of entertainment purposes, you can check them out here .
With the fact that there are no specific laws that regulate online bookmakers, they may be considered illegal, but most governments do not have the proper tools through which they can control the traffic on these sites. Hence, players can access, register, and bet at these sites without facing any repercussions.
The online bookmakers also do not face any types of penalties due to the fact that they are offshore sites and domestic laws of a certain country do not apply to them, hence governments cannot pursue them.
By legalizing the industry, countries will be able to regulate it much better. Not only that, but those countries that have officially legalized online bookmakers have even implemented systems that block unlicensed sites. So, not only do they regulate the industry better, but they also protect its residents from various online scams.
As you may know, in the past couple of years, the number of online scams has spiked and everyone must make sure that they are safe when browsing the net.
Massive Contribution To The Economy
There are plenty of industries and factors that contribute to the economy and allow it to grow. Online bookmakers have the potential to be a massive contributor. How? The annual revenue that these sites make counts in the billions. By legalizing them, governments would be able to collect millions of dollars in taxes and use them for a very good cause. Not only that, but this industry would also be able to employ thousands of people, thus reduce the unemployment rate.