Michigan's Gamble : A Theoretical Analysis of the Impact of Legal Sports Wagering on Michigan's Economy
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The purpose of this project is to attempt to forecast the strengths and benefits to the state of Michigan in adopting legalized sports gambling. The project begins by examining how Las Vegas rose to the pinnacle of legal wagering today, and then switches to a case study of New Jersey's newly implemented legal sports betting. From there, the project shifts towards analyzing the current state of wagering in Michigan, and compares it to the revenue from gaming in New. Jersey, prior to the passing of legislation. As a hypothesis, it seems as if there is a large field for the State of Michigan to move into. Just like the trends we are seeing with recreational marijuana legalization, legal sports gambling offers the local and state economies a chance to capitalize on an industry that has long operated in the shadows. After comparing numbers, this project will show the potential positive impact of legal sports wagering in the State of Michigan, both financially and socially, through the employment of a case study and close examination of secondary data.
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