It appears the issue of legalized sports betting in New Jersey is not a dead one now that State Senator Raymond Lenik has filed a federal lawsuit seeking to overturn a ban that limits sports betting to just four states in the country. Today’s Asbury Park Press editorial is in support of Lesniak’s action and I could not disagree more.
It’s easy to say that legal betting on football, basketball and other sports would produce revenue for our cash-strapped state because it would. We all know there is plenty of illegal sports betting taking place so why shouldn’t New Jersey get in the business and give their struggling racetracks and casinos a badly needed shot in the arm? The Press editorial says legal sports betting would generate $100 million a year in tax revenues and that’s not the kind of money to be ignored.
In times like these you need to look a ways to generate income and there is no question there is money to be made in the sports betting business but the question that needs to be asked has to do with the downside and I believe there is plenty of it. If you make sports betting legal in New Jersey you will create an entire new breed of customers who will clearly become compulsive gamblers. Sure there are ways to make a bet now from overseas internet sites to neighborhood bookies but once you make it easy and legal you will attract those who don’t be on line and don’t know anyone to take their action.
Most of us who bet do so through office pools, fantasy leagues, etc and most of that is pretty harmless. But all bets are off once you can legally go on line or spend a day at a sports book just a few minutes away. Just like the state is trying to grab money when they need it so will those who think they know more than the next guy and many of them will get in trouble.
Another victim of legal sports betting will be the athletes themselves who will be under even greater scrutiny the next time they drop a pass or miss a layup that would have beaten the point spread.
There is money to be made if sports betting were legal in New Jersey but are the consequences worth it?
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