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Senator presents bill to legalize gambling in Texas Benefits of Legalized Gambling. Gambling is a way of betting one’s money or possession with an unknown outcome and of which the main goal is to acquire more of the said money or possession. ‘Â Various groups in society have opposed this type of activity. The positive benefits of legal gambling far out weigh the disadvantages proposed by any naysayers. This article dissects and debunks the common myths about the negative aspects of legalized gaming, and instead shows the true benefits of this form of entertainment. Well aside form the obvious income for the government via taxes. You can also argue that by legalizing it you can regulate it and bring in a greater amount of accountability for those who run the gambling.