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The online betting industry in the U.S. is going from strength to strength as more states choose to pass legislation to allow operators to launch betting sites in their jurisdictions.
Even consumers in states that don't offer legal online betting yet can enjoy offshore betting and exciting welcome offers. Gambling expert Vlad Grindu explains that selecting the best new casinos online can provide customers with excellent sign-up bonuses that don't require deposits.
However, the possibility that more states might legalize online gambling in the coming years is increasing as those that have already done it post record-breaking profits. Not only is this great news for state economies and employment, but it also provides a boost in tax revenue that can be invested back into the community.
South Carolina is one state that has seen recent attempts fail to garner the required support for bills to be passed. House Bill 5277 failed in 2022 and HB 3749 is unlikely to pass in 2024. One of the biggest obstacles in the way of online betting in South Carolina is Gov. Henry McMaster who remains in office until at least 2027. He was a significant force in campaigning against legislation in the past.
However, one thing going in favor of the proposal is the recent legalization of online betting in North Carolina. The neighboring state's online sports betting launches on Match 11th, providing an easy way for South Carolinians to access online sports betting.
The Access to other online betting options in neighboring states or with offshore betting operators results in lost tax revenue potential for the state. Moral objections are likely to fall on deaf ears if people can still access online betting facilities while the state misses out on vast revenue sums.
The most recent proposal to legalize online sports betting in South Carolina would see eight sports betting apps being made available with a 10% tax on revenue.
Revenue projections of over $60 million in its first year alone for online sports betting in North Carolina show the potential for their neighbors in the south. Though South Carolina has roughly 50% of the population that North Carolina does, the potential to increase tax revenues significantly will still be one of the best arguments for legalization.
South Carolina's reputation as being one of the most anti-gambling states has worked against online betting. The only legal form of betting available in the state is the South Carolina Education Lottery which has been in operation since 2022.
The South Carolina Education Lottery offers customers a variety of draw games and scratch cards, with billions of dollars being raised for education projects.
The only other way that bettors in South Carolina can enjoy betting is via Riverboat casinos. While betting in the state is prohibited, riverboats are permitted to make the short journey into the international waters of the Atlantic where they are free from state legislation.
South Carolina may loosen its strict betting regulations in time, but it is unlikely that anything will happen in the next year or two.