The world of gambling has seen a huge shift in the past decade.
The internet and mobile casinos have opened up a world of gambling for millions of people.
From online casinos to sports betting, you can now gamble almost anywhere at any time. However, there is a lot of misinformation about gambling, particularly about licensed gambling.
With so much misinformation out there, it can be tricky to know the difference between what’s good and what’s bad. Here are the important things you need to know about licensed gambling in the United States.
What is Licensed Gambling?
Licensed gambling is the legal, regulated process of accepting wagers on sporting events, concerts, and other forms of entertainment. The licensed casinos and other businesses that offer these games are certified and regulated by each state.
Why States have Created Licensed Gambling?
There are four main reasons why states create licensed gambling: tax revenue, recreational gambling, preventing underage gambling, and preventing criminal activity.
According to the North American Association of State and Provincial Lotteries, approximately 80% of all gambling revenue is derived from the lottery. However, lottery participants only make up 35% of the adult population.