Scholars from Michigan State University have voiced their opinion that the betting industry and gamblers alike would benefit from regulating online gambling in the United States.
The piece aired in the publication MSU Today, and saw the scholars voicing the opinion that the United States has ineffectively tried to control online betting, and many online betting operators have reached the size and scope where they want to be regulated.
MSU finance professor and co-author of the article Mark Johnson said, “The online gambling industry is at the point where it wants controlled regulation. We conclude that both the industry and individuals – including underage and problem gamblers – would be better off if regulation exists.”
The article examined the Unlawful Internet Gambling Enforcement Act as well as the change in stance regarding the Wire Act by the Department of Justice that loosened the laws for online gambling in the United States.
According to the article the global online betting industry has tripled in size over the past 10 years, growing from $14 billion in 2005 to $41 million in 2015.
“Internet gambling is expected to continue to grow,” Johnson continues. “And while it’s unclear which types of online gambling will be and won’t be legal in the future, if the U.S. government more clearly defines ‘legal gaming,’ the benefits and risks associated with investment in all areas of the industry will be altered.”
Those interested in reading the article can do so here.