Sports Betting

Letting people decide whether & how they gamble is good, but gambling comes with regressive taxes & manipulation of a vulnerable population

There are real tradeoffs here.

Given human behavior, many more people would probably get into serious debt. Should they be protected from their own behavior? I'm not sure.

Hopefully this leads to better political U.S. betting markets, relevant for research.

Organized betting of any kind exploits people with self-control limitations, so the law should not support it.

I believe that in general the government should not prevent people making the deals they want to. Betting is no exception.

US sports so distorted (mkt power, restrictions on athletes,ad hoc transfers, irrational loyalties) that betting need not improve efficiency

Demand for this is high. Should reduce $ going to organized crime. We need regulation & taxes to deal with gambling addiction problems.

addiction is a problem for a small percentage of people, but most of us can gamble responsibly and the tax receipts will be beneficial

-see background information here

People who want to bet on sports will be better off. Society? Less clear.

There is a libertarian argument in favor of legalized betting, but gambling has a harmful effect on the poor.

It is opening casinos in every living room.

It may be easier to regulate and address the health effects of legal than illegal gambling, but overall impact of legalization is uncertain.

Increasing gambling opportunities will make some better off, but it will also increase gambling addiction and make others much worse off.

Details matter. Illegal gambling is prevalent and competition is good but if the states give themselves a monopoly then less competition.

It's not possible - or at least very costly - to stop, so make it more visible.