Mississippi Approves Sports Betting
After over four decades in operation, the Mississippi Department of Financial Services has approved the nation’s first legal sportsbook. On the heels of legalization, the agency is also pushing to legitimize sports betting in general. This is good news for Mississippians who wish to try their luck at professional sports wagering, but who are unable to do so due to a lack of an official license.
The economy is currently on the upswing. As such many people are seeking additional income through their earnings. For many, this means picking winners on spread betting and other forms of sports wagering. Many who seek a second job are turning to online sports betting sites, which gives them an avenue to earning money without having to leave their own homes.
Unfortunately, not all bets are successful. This is especially true in cases where the favorite team wins. While some states allow spread betting by those who possess licenses, it is illegal in Mississippi.
However, in spite of its illegality, this illegal form of gambling is still common in Mississippi. It is estimated that more than 60 percent of its residents engage in this form of wagering. This number has remained remarkably steady for over two decades. As such, it should come as no surprise that more individuals have decided to take advantage of Mississippi’s sudden opening to licensed sports bettors.
However, even though Mississippi approved the first legal sports betting operation, it does not mean that the door is completely shut on legalized sports betting. In fact, it remains one of the only states in the U.S. that restricts sports betting to individuals who have a license issued by the state. Other states are seeking to change that and loosen their laws to allow for sports betting and other forms of sports wagering.
Of the many forms of wagering one can partake in, sports betting offers some of the highest stakes. The high-stakes wagers, which can reach into the thousands of dollars, is due in large part to the fact that Mississippi law still bars anyone with a license from placing any wagers that involve a payout of more than a single dollar. Many people, therefore, find themselves placing sports bets only to later be discouraged when they realize that they need to leave their homes to collect the winnings.
That is why most Mississippi residents favor legalizing more forms of legal sports betting. It would be best for everyone involved to let the chips fall where they may and be open to various types of wagers, including but not limited to spreads. Whether or not they will make the leap to become licensed sports bettors will depend upon how others react to their sports wagering endeavors.
If Mississippi residents are allowed to trade stocks and take out loans, it would be only natural that they would be allowed to place bets on sports. With more individuals following suit, there will surely be increased competition for a greater number of wagers and a greater number of jackpots.