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Sports betting should be legalized.

Introduction

Sports gambling of all forms are considered as the flourishing industry in these financial crises, and with the introduction of new technologies, this industry is speculated to grow at a rapid pace. This level of growth has raised serious doubt on the ability of governments to outset this industry, and particularly policies of the federal government of United States are forcing others to raise doubts over their credibility and efficiency (Bisson, 2000, pp. 2-25).

Currently sports gambling are progressing with the help of internet as it is considered illegal is most part of the world, and because of this income generated from this business in not recorded in the tax book of country. On the other hand, in current financial crises if betting were made legal then revenue earned from these could be used for the enhancement of country economic crises.

For instance, only in United Stated of America Approx $380 billion is illegally spend as compare to Approx $3 billion through legal ways, these stats provide a clear picture of income earned and spend through illegal and legal ways (Bisson, 2000, pp. 2-25).

The gambling industry has become a competitive market place for private and gambling companies, which are providing monitory benefits to the customer, on the other hand challenging the jurisdiction level of countries. Further, operators of this market offer numerous categories of products to their customers, who suggest that batting has become an important part of the market, but not considered as ethical (Goodfellow, 2005, pp. 5-20).

Figure 1: products offered at Gambling (Hawkswood, 2012)

On the other hand, among all forms of gambling, sports gambling are speculated to appeal a broad range of customers and hence considered as the product in demand. As this product is operated by, qualified and well-informed persons that are striving to make it an appropriate market for customer investment (Muehle 2012, pp.10-15).

Undeniably, demand of customers has increased the level of competition level in the sports betting done through online and offline platforms, thus putting added pressure on the experience operators to provide quality services to customers, which has ultimately benefited the customers (Hawkswood, 2012, pp. 10-30).

With respect to its prevailing benefits facts remains that this business is considered as illegal in most part of the world, and for this several sports authorities like (FIFA, ICC, UEFA and others) have raised strong criticism and requested the government of countries to discontinue this business with immediate effect (Goodfellow, 2005, pp. 5-20).

Discussion

History of Gambling In USA

Gambling is considered as the oldest form of entertainment and as observed by scholars that people of old times like Greeks, Romans, and ancient Egyptians used gambling as part of the amusement. However, this business was introduced in USA by Europeans during the process of colonization (Muehle 2012, pp.10-15).

It is the fact that gambling and sports share a very long relationship as people has been observed of placing debt on different sports by considering it as a form of entertainment for several years. However, ...