On 21st June, just 4 years after online gambling became legal in the USA. iDEA sponsored a study that showed promises. The goal of the research was to analyze the financial and social impact of online gambling. In this study, the term online gambling refers to casinos, sports betting, bingo, poker, and lotteries.
Presently, gambling is legal in just a few states. But, the result of this study may encourage other states to legalize it. Indeed, the state of Washington, Pennsylvania, New York, Massachusetts, Illinois, Mississippi, and California are all studying the possibility. Perhaps, they were waiting to see the impact it had on New Jersey before writing bills.
The study revealed that many original concerns some expressed when gaming became legal were unfounded. Back in 2013, some believed that legalizing gambling would increase cybercrime. Some also thought that NJ would see an increase of online cheating and player fraud. It was thought that Nj street crime would rise.
Positive findings and job created
Since NJ legalized gambling the study revealed many positive impacts. The most noticeable one is the $998.3 million generated in 2016. Of this, $218.9 million were employees wages. This is because the industry created 3,374 new jobs. As a result, the industry workers paid $124.4 million in tax to local and state governments.
According to the study, the legalization of gaming in NJ was a big success! This is primarily due to the strict laws in place. The current laws are ensuring the operators are accountable for their actions. Because of that players find it easy to trust online casinos and feel protected by the laws.
The study also revealed that because of the gaming industry. Many companies have made gigantic technological progress. But, also that it had very little impacts on cyber crimes and none on street crimes.