Legalized Bookies

The opinions expressed here are solely the author’s and do not reflect the opinions or beliefs of the LA Progressive.

Bookies have long since come out of the shadows and pretty much operate in the open, now may be the time to legalize their businesses

High-profile bookies have recently made headlines for their involvement in various legal and financial controversies. Mathew Bowyer, who has been linked to Shohei Ohtani, (the Los Angeles Dodgers two-way superstar) and the millions funneled from his bank account by his interpreter Ippei Mizuhara. This connection between a high-profile athlete and a prominent bookie has sparked investigations into the legality and ethics of such high-stakes betting. The of Bowyer, who has a history of controversial betting practices, adds an extra layer of scrutiny to the sports betting industry and underscores the need for stringent regulations and transparency.

Another notable figure is William “Billy” Walters, a renowned sports bettor convicted of insider trading in 2017. Walters served a prison sentence before being pardoned by President Trump in early 2021. His case highlighted the intersection between high-stakes betting and illegal financial activities , drawing significant media attention. Walters’ notoriety in the betting world has made him a focal point for discussions about the ethics and legality of sports betting.

The history of making local bookies illegal is rooted in a complex interplay of moral, social, and economic factors. While early efforts focused on prohibition due to concerns about crime and morality, modern approaches increasingly favor regulation and legalization as more effective means of controlling gambling and harnessing its economic benefits. As more states and countries move towards legalizing sports betting, the lessons of history highlight the importance of a balanced approach that provides a path for local bookie’s to have their businesses legalized as well.

Economic Benefits and Consumer Protection

There are many misconceptions about how bookies operate, often fueled by portrayals in movies and media that bookies are shady characters working in dark alleys, always on the run from the law. While the Hollywood portrayal of bookies is riveting for the audience, most bookies today run very “ho-hum” legitimate, highly professional businesses. With the rise of legal sports betting and the availability of advanced pay per head software, modern bookies provide a service comparable to major (and legal) online sportsbooks. They use sophisticated systems to manage bets, monitor odds, and ensure accurate payouts, thereby maintaining transparency and trust with their clients.

Legalizing the local bookie’s business can bring significant economic advantages. These businesses, once regulated, can generate substantial tax revenue that can be reinvested into local communities. This revenue can support public services such as education, healthcare, and infrastructure. States like New Jersey and Nevada have already demonstrated the positive economic impact of legalized sports betting, with millions of dollars in tax revenue bolstering state budgets. By bringing local bookies into the legal framework, we can ensure that these financial benefits are not lost to the underground economy but are used to enhance public welfare.

Consumer protection is another compelling reason for legalizing the bookie business. In an unregulated market, bettors face risks such as unfair practices, fraud, and a lack of recourse in disputes. Legalization can impose strict regulatory standards on bookie operations, ensuring transparency and fairness. This can include measures such as licensing requirements, regular audits, and adherence to ethical practices, which protect consumers from exploitation. Legalization also means problem gamblers can be better identified and supported through mandatory self-exclusion programs and access to help services, reducing the social harms associated with gambling.

Meeting Progressive Ideals

Legalizing local bookie businesses aligns with progressive ideals in several ways:

1. Economic Justice: Legalization can help dismantle illegal gambling operations that often exploit the vulnerable and operate without oversight. By bringing bookies into the legal economy, we can ensure fair wages, proper working conditions, and economic opportunities for employees in this sector. This can help reduce income inequality and promote economic justice.
2. Community Investment: The tax revenue generated from legalized bookie businesses can be directed towards community development projects, educational programs, and social services, directly benefiting local residents. This approach fosters a more equitable distribution of resources and supports community empowerment.
3. Civil Liberties: Advocating for the legalization of local bookies protects individual freedoms. Adults should have the right to engage in betting activities without the fear of criminal penalties, provided these activities are conducted in a regulated and fair environment. Legalization respects personal choice while ensuring that appropriate safeguards are in place.

Critics might argue that making local bookies legal could increase gambling addiction and related social issues. However, a regulated environment can better address these concerns than an illegal one. With legalization, comprehensive measures can be put in place to support responsible gambling, such as funding for addiction treatment programs, public awareness campaigns, and mandatory contributions from bookies to problem gambling research.

Providing a path to legalization for local bookies offers economic benefits, consumer protection, and aligns with progressive values ​​of economic justice, community investment, and civil liberties. By bringing these businesses into the legal fold, we can ensure fair practices, protect consumers, and generate significant revenue for public welfare. It is a pragmatic approach that balances economic opportunity with social responsibility, providing a model for progressive reform in the gambling industry.