Last updated on October 2nd, 2022 at 06:05 am
Lawmakers passed a bill this summer legalizing sports betting in Massachusetts. Also, Governor Charlie Baker signed it into law. The law assigned the Gaming Commission with creating a framework for the new industry. Additionally, regulators continue studying recreational activity that brings economic benefits despite some social risks.
Rachel Volberg has been working with the Massachusetts Gaming Commission since 2013. Also, she has been researching the effects of gaming for almost four decades. As a result, the MGC picked her team to look into the potential risks of casinos.
According to bookie PPH sources, only a few states fund research on their gambling industry. That’s why there is little information about the economic and social impacts of wagering in the U.S.
Benefits of Legalizing Sports Betting in Massachusetts
Volberg is a research professor at the UMass Amherst School of Public Health and Health Sciences. For the past ten years, she has been the principal investigator for the Social and Economic Impacts of Gambling in Massachusetts (SEIGMA) study. SEIGMA’s most recent report, the first in the United States, examines the possibility of Bay State’s legal sports gambling. And even if the picture is still hazy, it is becoming more evident as per gambling and sports betting software experts.
Proponents of sports gambling who support legalization based on economics may not be thrilled by what is emerging. However, the study asserts that shifting spending from the illegal market to the legal market will have direct economic effects, most of which are already occurring due to the illicit market as per online bookie software reports. Additionally, sports betting will primarily redistribute existing financial capital rather than attract new money outside Massachusetts.
Naturally, that is not insignificant; the bill to legalize sports gambling was overwhelmingly supported by state lawmakers and signed into law by Governor Charlie Baker shortly after that. Since sports betting was made legal by a U.S. Supreme Court decision in 2018, it was the culmination of momentum. In addition, legislators in the area pointed out that Massachusetts was losing money to its neighbors and that every other state in the Northeast had done the same.