Any state profits by being “in early” on new revenue generating stuff.
Indiana was one of the first in the great lakes to allow casinos, made a lot of dough, now it’s fallen way off because all the other states have it.
NJ should legalize grass, would be a big short term boost.
If you want a prime example of how badly a state can screw up gambling and turn a potential money maker into a net negative — a cesspool of crime and corruption — look at how the State of New Jersey handled Atlantic City. In the 70s, when no one else had gambling, the state raked in the revenue and put zero dollars back into the city. Sure, there were drug deals and prostitution a couple blocks from the casinos but who cares? If people from NJ, NY and PA wanted to gamble, they had to deal with it and where else were they going to go? Now, all the states in the area have gambling and no one needs to go to Atlantic City. The infrastructure and surroundings in the other states are nicer than AC too. So now the AC casinos are starting to go bankrupt and all you are left with is the crime.