Look Out Legal Weed IL Has Another Adult Hobby Making Millions
Another adult hobby is making millions in Illinois, so look out legal marijuana.
Illinois Is Broke, What Should The State Government Do
If you have lived in Illinois for any amount of time, then you know the state government has a lot of problems. Years of corruption have put the Land of Lincoln into massive debt. How do you solve this issue?
Though officials could not figure out what to do for years, it now seems so simple. Just change the laws and legalize some former criminal activities and then tax the heck out of it.
Legalize Recreational Marijuana In Illinois
The big move for Illinois was to legalize recreational marijuana. We all thought it would be a big moneymaker for the state but I do not think anyone could predict that it was going to be this huge.
The sales of legal weed are earning millions of dollars. Each month breaking the previous record with no let-up in sight.
Legalize Sports Gambling In Illinois
The next big play was to legalize sports gambling in Illinois. That includes the betting apps on your phone. This has also proven to be an enormous revenue generator.
We know how successful cannabis so what is the word with sports gambling?
"Five COVID-19 surges and nearly $9 billion in wagers later, Illinois is considered one of the nation’s top four sports betting markets, with gamblers plunking down an average of $156 every second."
"So far, the sportsbooks have come out on top with almost $651 million in revenue, generating $98 million in state tax revenue plus another $7.3 million for Cook County."
"The state’s $8.9 billion all-time handle would shake out to about $903 wagered for every adult resident — nearly $13.5 million bet every day, or $9,341 every minute."
As you can see, Illinois has added another new successful source of revenue. Sports gambling is just going to keep growing.
Mobile registration is now permanent so users will no longer have to sign up in person at a casino. That means much easier access to placing wagers. Look out marijuana, adults in Illinois have another vice to spend their money on.