Virginia’s big gamble on sports betting hasn’t payed out as promised

In many states, officials voting to legalize betting on live sports seem to have rushed ahead without much research and planning. Since the Supreme Court in 2018 found the federal law prohibiting sports gambling unconstitutional, sports betting has boomed. The New York Times spent nearly a year investigating how this rapid expansion unfolded. In many cases, the lobbyists persuaded the lawmakers to keep tax rates on sports bets very low. In others, they advised them to let the gambling industry guide whether and what kind of consumer protections they needed.

Virginia's big gamble on sports betting hasn't paid out as promised. The gambling industry had been able to give away hundreds of millions of dollars in tax-free bets. As of July 1, the exemption was removed. Now, sports bets bring in more money for the state. 2.5% of the betting tax money goes to the Problem Gambling Treatment and Support Fund. The state's college students are especially vulnerable to allure of online sports gambling. They should be skeptical about the promises, warnings and advice of industry lobbyists. It's better to make the most of new revenues and minimize the risks and potential damage to Virginians.