Proposed Wisconsin Sports Betting Will Not Bring Much Revenue to the State

The proposed Wisconsin sports betting bill would change the state’s approach to legalized gambling. However, economists said that sports betting would have a negligible impact on Wisconsin’s economy.

Governor Tony Evers and Oneida Nation chair Tehassi Hill declared the end of around a half year of discussions that will make room for sports wagering at the Oneida casino and other properties in the state. Whenever endorsed by the government Department of Interior, the tribe intends to make wagering accessible by the fall. Oneida Nation vice-chair Brandon Stevens said legal sports betting would boost the travel industry in northeastern Wisconsin.

According to a sports betting software company, Governor Evers said that legal sports betting would bring employment growth and new revenue to the state. However, economists argued that gambling expansion would not always result in economic development.

Proposed Wisconsin Sports Betting Legislation

It isn’t easy to gauge the impact of legitimized sports betting because there are various ways for individuals to bet on sports illicitly. However, lawful games wagering in Wisconsin will mean a portion of that cash moves out of the underground market economy into one that is burdened and directed. In addition, according to a political forum, the curiosity of having the option to wager on a football game may likewise attract some new individuals to the Oneida gambling clubs, essentially after the launch.

Yet, since the new deal with the Oneida Nation allows wagering nearby, Paul said it’s not likely that this declaration alone will make individuals in different parts of the state change their wagering ways.

Also, limiting sports betting within tribal casinos might not bring much action. Instead, the state should open the market to allow individuals to use a sportsbook pay per head for $5 per player. That way, players have more choices, especially betting via mobile devices.