Business idea for debt ridden governments

Sports betting

Throughout North America today there are many, state/provincial governments that are in debt and are looking for ways to dig themselves out of their holes. Some have thought of selling off assets like the LCBO (Liquor Control Board of Ontario) in Ontario or creating a whole new ‘legal’ industry like the legalization of marijuana in California. However, there is another idea that is proven to make money-online gambling.

Online gambling is legal in the UK and it is a booming industry that raises a lot of tax revenue for the government. As of now, online gambling is illegal in the US and Canada so you won’t find any of these types of businesses on this side of the pond. What you will find throughout North America are thousands of people that register for these sites and gamble on various sports, including North American sports leagues.  These sites generally offer sports betting in real time which is something that most people do not have access to other than on those websites.

Although it is technically not legal for people in Canada and the US to bet online, these sites fit in to a grey area because the sites are offshore, more specifically in the UK. Therefore, the authorities here do not have jurisdiction and can not prosecute people that use these websites. Also, these websites openly advertise across North America, including in arenas while professional sports teams play and are being gambled on in real time.

What this means is that there is a proven market and demand here for this type of service and thus far it has not shown to have a negative impact on our society. The only thing that is negative is the loss of tax dollars that governments in North America are not making by having this ineffective ban in place. If this ban were lifted, we would see local businesses launch sites that are geared more towards the North American consumer and it would spur a new and big industry that can and surely would be taxed and regulated quite heavily. These taxes would do a lot towards digging all the governments that allow them to exist out of their large deficits. It would also create jobs, many of which would be high paying and stable. The governments can even place rules that the jobs must be local to ensure that all the benefits are realized like they planned.

If governments really studied how people use these websites and the amount of people that use them, they would soon realize that they have accomplished very little by banning these businesses in North America and have lost millions or maybe more in tax dollars and employment opportunities for their citizens. This law should be changed and governments should allow online sports gambling sites to operate in the USA and Canada.