Published: 16.07.2019, 12:32
2 min read
New Hamshire has become the latest state in the United States to legalize sports betting.
This came to be after the State’s governor, Chris Sununu, signed into law a bill that makes it legal for individuals to bet on professional sports. The new law also legalizes betting on most Division 1 college sports, contrary to opinions of Americans on college sports betting. However, it remains illegal to bet on schools within New Hampshire.
Also, mobile betting at retail locations will be legalized. The local sports betting sites will be 10 in number. It is, however, expected that it will take time to set up the places.
New Hampshire expects sports betting activities to net approximately $7.5 million in the fiscal year 2021. The amount is then likely to almost double to $13.5 million in the following two years. The money will be used to improve New Hampshire’s education sector. This has remained unchanged since New Hampshire was just considering legal sports betting.
Governor Sununu said that he authorized the new law because the sports betting activities will be conducted responsibly. He added that the betting would be done with an organization that has vast experience in the industry, and that has the know-how to get the new venture up and running.
Sununu has been a big supporter of the new venture and stated his desire to be the first person to place a bet when the first sportsbook opens.
Last year, a U.S Supreme court allowed all the states in the country to get into sports betting, effectively ending Nevada’s monopoly on the lucrative industry. Since the ruling, several states have passed legislation legalizing sportsbooks. In addition to New Hampshire, the District of Columbia and six other states have legalized sports betting.
Despite the enthusiasm, some opponents of the new law have argued that legalizing sports betting would encourage the State’s reliance on what they term as “problematic” sources of income. The other problematic sources of revenue include alcohol and cigarettes.
However, the people supporting the new law believe that the legalization of sports betting will force black-market betting activities to come to the surface. They also argue that the new law will provide a framework for the support of addicted gamblers.
The new law provides for the formation of an organization whose primary focus will be the education, prevention, and the treatment of gambling addiction.
