It will not. First, large numbers of people will still gamble, and pay a far higher price to do so.
Sports betting is illegal in my state, yet the poker games at my local casino has always been full of bookies taking bets from other players, at significantly worse lines and higher vig than legal book makers in Vegas charge. And sometimes stiffing winners clients after they have a big win, or using threats of violence to collect from big losers.
A few years ago the poker room had to shut down fir nearly 6 months due to a flood. Private games spring up all over town, and instead of taking $126 an hour ($14 per player per hour) like the casino, they raked as three and four times as much. In one game a friend of mine saw the dealer cashed out $2500 in “tips” from her shift. she had been skimming from the pots and the “host” claims he wasn’t in on it. With no cameras, floor management, security etc, they are lucky they didn’t just get hit by a home invasion given the tens of thousands in cash at each game.
Legalized gambling doesn’t just save lives by keeping it out of organized crime control, it makes it far less costly for participants, and making its negative impacts on society much lower. In a competitive market the rake/vig is much lower, playing poker for $14 an hour has much more limited personal impact than playing it for $50/hour.
Lastly legal gambling can enforce rules to protect players from their worst instincts. One example is banning collection of gambling debts to help ensure players only play with what they can afford to lose.
> Sports betting is illegal in my state, yet the poker games at my local casino...
So gambling is still allowed in your state. I'm saying to ban it completely so the entire market is closed.
It won't be too difficult to crack down on private gambling sites as well. The issue in the US is that each state has its own laws, so this won't work unless there is a ban at the federal level.
> Legalized gambling doesn’t just save lives by keeping it out of organized crime control, it makes it far less costly for participants, and making its negative impacts on society much lower.
I don't agree. There are countries where gambling is banned, and they don't have a gambling or crime problem.
You ignore what I said and ignore reality. I gave real examples of two real gambling markets, one legal and illegal, that demonstrated how much worse the effects of the illegal market were.
Instead you claim countries have successfully banned gambling completely. OK name one so we can correct your misapprehension.
For example Sports betting has been illegal almost everywhere in the US for a long time. Illegal sports gambling has peaked near $150B a year.
> There are countries where gambling is banned, and they don't have a gambling or crime problem.
Like which? The only democracy I see that (almost) fully banned gambling seems to be Israel, and their underground gambling industry is estimated at $3.5 billion.
