Gambling is Ever Expanding

We have already addressed that people who are inclined to gamble now have more money to do so, given the labor force participation rates. Another important question is whether or not there should inherently be more gamblers in the world than there have been?

Rather than look for every law change throughout the entire world, let's just look at some recent gambling-related events to take place in the for the answer to this question.

One relatively recent major event to spring to mind that we have not even seen the effects of yet is that, on May 18, 2018, the Supreme Court of the United States overturned PASPA.

I've written extensively about PASPA, including a mention in this edition of News & Notes.

When it became apparent that this matter might make it to the SCOTUS.

We're not going to get into the nuances of what exactly PASPA did, except suffice it to say that it restricted sports betting in all but a few states.

There have been some arguments from both sides on exactly how much illegal sports wagering took place in the United States prior to the SCOTUS striking PASPA.

But, it is almost certain that the wagering totalled well over 100 million dollars annually.