Originally Posted by
wantitall4moi
Yup a guy goes in to bet a few $5 parlay cards but loses 50 bucks in a slot machine or at a roulette table.
Most people dont get it, they think sports betting is big business. It is world wide and on the illegal side. Trick is to get it legalized everywhere and reap the fruits of the whole tree. But most analysts and economists or any other 'ist' you want to name dont think 5-8% is enough. Horse tracks cant make it on 30%, and horse racing is still bigger than sports gambling. Lotteries and powerballs and all that other shit is well hidden and the handle and hold isnt widely known, plus it has the promise of a huge pay off at the end. Sports is a grind or a pass time. Which people get their fill of illegally for the most part.
So legalizing sports betting isnt worthwhile for the most part. The taxes on it just arent there. Even if they can get 100 billion in action, and books profit say 7 billion a year what is the government likely to expect to get in taxes? Even if its 15% thats only a billion dollars. Sounds like a lot of money but when you see that the debt is 15 trillion, 1 billion isnt even going to register. That number itself is even assuming a lot. Lie a 7% hold and 100 billion in handle, neither of which are highly likely. But used as a 'simple' math ratio.