Betting on the future, Alabama considers launching state lottery and casino expansion

Only five states don't have their own state lottery: Nevada, Utah, Alaska, Hawaii and Alabama. However, this can change soonly, as Alabama lawmakers proposed new gambling bill.

The latest attempt to establish a state lottery in Alabama was in 1999 when lawmakers rejected it. Now, it has been decided to make another attempt to enable gambling in state casinos, as the gambling bill has been proposed on Wednesday.

It assumes the authorization of the state lottery and seven casinos throughout the state, which, according to the estimates of its originators, may bring a profit of $800 million, according to Fox News.

The bill needs approval from three-fifths of all lawmakers to be put to a vote. Its supporters argue that if the bill passes, the money earned through the state lottery will be used for educational purposes, such as scholarships. Another argument of the supporters of this law is the fight against electronic gaming bingo machines located in shops or small gambling halls.

As Alabama Reflector highlights, if the bill is approved, the license for casino opening would cost A fee of $5 million, accompanied by an initial investment of $35 million, with construction to commence within 12 months after securing a license.

Sources: Fox News, Alabama Reflector, Go Banking Rates