Why States Are Betting On Sports Gambling To Cover Budget Deficits

Higher state budget deficits could serve as a potential catalyst for faster regulatory approval of sports betting, and its cousin, mobile casino gambling.

State budgets were already in trouble before the pandemic hit; in the ensuing months they have been outright devastated. With shuttered businesses and tens of millions of people left unemployed, state revenues are collapsing and costs are skyrocketing. The Center on Budget and Policy Priorities estimates a $615 billion fiscal hole in state budgets as a result of Covid-19 cumulatively over the next few fiscal years.

Source: Why States Are Betting On Sports Gambling To Cover Budget Deficits

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