Contributions of Online Gambling to United States Tax Revenue
Gambling can cause illicit activities, but countries still allow this industry to roam free. This is because the gambling industry…Continue Reading
Politics And Gambling
For now, four states have approved the legalization of the operation of online gambling sites and services within the boundaries…
There are perhaps too many books about gambling out there. What’s more, you’ll find that a lot of them have…
On our post regarding states most likely to legalize online gambling, we mentioned that West Virginia is one of the most likely states in the US to legalize online gambling this year.
And so, in the last week of March, West Virginia did just that and officially became the fifth state in the US to legalize online gambling.
This happened due to the failure of Governor Jim Justice as he was unable to veto the House Bill 2934, which will legalize online gambling if not signed after 15-days. While it’s not exactly what you may think, online gambling is still as legal as in any other state.
Now that it’s legal, what would happen in the next few years in West Virginia regarding online gambling?
Just as usual with the other states, gambling facilities and infrastructures in West Virginia will have to decide whether they’ll start operating online gambling sites.
The ones qualifying for this task include The Wheeling Island Hotel, the Mardi Gras Casino & Resort, Hollywood Casino at Charles Town Races, the Mountaineer Casino, Racetrack and Resort as well as The Casino Club at the Greenbrier.
Getting licensed may cost $250,000 and for every five years, they will need to renew their license for $100,000. Once licensed, these five gambling infrastructures will be able to permit online gambling to their customers, as long as they’re of legal gambling age (21).
The tax rate from online gambling revenues will also be the usual, set at a rate of 15%.
West Virginia online sports betting isn’t doing well at the moment. Wheeling Island and Mardi Grass just had their online sports betting activities, as well as the land-based activities suspended.
Despite being in a very bad situation right now, West Virginia is still expected to produce some good results if they settle down with online gambling, just as how the other four states did in their early days.
For now, four states have approved the legalization of the operation of online gambling sites and services within the boundaries of the United States.
In this article, we’ll be talking about the shape of the online gambling industry in each of these four states, such as their revenues, online casino games, and more. But first of all, let’s take a look at the order in which the operation of online gambling became legal.
The first to legalize online gambling facilities to be operated in the state is Delaware and New Jersey, and it’s been that way since 2013 when they started offering online casino and poker games.
Nevada started in that same year, but they prioritized on offering online poker games.
Pennsylvania had only recently legalized online poker and casino gaming in late 2017. However, since it was late that year, it was only in 2018 that online gambling sites started their operation.
Delaware offers a wide variety of online gambling. There is off-track horse betting in which the most popular sites for this type of gambling is TVG and TwinSpires.
There are also online casino games provided to you by 888. Their games include roulette, blackjack, and their famous Jacks or Better video poker, which makes it obvious that they allow online poker as well. They also offer 15 slot titles.
There are also sites for their racinos, namely Dover Downs, Harrington Raceway, and Delaware Park.
New Jersey allows for horse racing and most of the sites in the state are permitted through 4NJBets.
There are also online poker sites specifically made in New Jersey, all of which are available in the following sites: WSOP.com, 888, Party Poker, and Borgata Poker. PokerStars had recently just got started their operation once more in New Jersey.
Also, the aforementioned four sites also offer online casino games.
There are currently three types of online gambling that were legalized in Nevada. Those are off-track betting, sports betting, and online poker.
However, they have conditions. For horseracing, betting is needed to be done on apps and official websites that are regulated by licensed betting companies. The same goes for accepting bets on sports events.
Online poker is also legal, as well as an online casino game, but you’ll have to be on the boundaries of the casino when making a bet.
Off-track betting is the only form of online gambling in Pennsylvania that is legalized. Sites such as TwinSpires, XpressBet, and TVG are the only ones that exist to provide that service, although they’re available both in your browser and mobile apps.
However, there’s another type of “gambling”, which may not be clear as of now. Daily fantasy sports sites such as DraftKings, CBS Sports, Yahoo!, and FanDuel allow the entrance of Pennsylvania players to their site.
This is perhaps because daily fantasy sports are considered a gaming skill and not gambling. However, there’s no law in the state of Pennsylvania that states that these sites are legal, but it’s considered… for now.
These are the four states that accept the operation of online gambling. Gambling companies saw this as an opportunity and so you’ll find large establishments getting built in some areas in these four states.
After the midterms elections and the voting complete, there were major changes that happened affecting the gambling industry in the United States. Positions like the governor, seats in the Senate and House of Representatives were also changed.
Today, we’ll talk about these changes and how they affected the states in the US and the online gambling industry.
Fortunately, these changes were in favor of the expansion of the gambling industry. The individuals that were voted for as government officials were, as luck would have it, fond with the idea of online gambling.
Before anything else, the impact of the midterms elections was focused on the five states in the US, namely Arkansas, Louisiana, Florida, Illinois, and Michigan. While there are negative effects, the positive impact overshadows them.
After the midterm’s elections, the majority of Arkansas voters, particularly 54 percent of them, made it possible for casino expansion as they approved this measure. This made the casino industry legal, although online casinos aren’t included.
This is a positive impact of the midterms elections as it might result in the opening of the Oaklawn horse track as well as the dog track in West Memphis. Their casino revenues will also increase, and online gambling may not be a dream anymore to this state.
In the midterm’s elections, voters were given the right to decide if gambling expansion decisions are to be kept, or if the people of Florida are to be given power.
Florida voters have approved this measure and this made it difficult for new casino facilities to be built inside the state.
This is also a result of the cooperation of Disney and Seminole Tribe after spending over $20 million for the anti-casino measure. This is perhaps because Disney wants to hold its edge in tourism, while Seminole wants to be the exclusive casino company in the area.
This also affected the online gambling sites, as they are not allowed to operate in the state. Greyhound racing was also banned in the state of Florida and racetracks will have to close down operation by the end of 2020.
Daily fantasy sports are now approved by Louisiana residents, particularly the 47 parishes out of the 64 parishes in the state. The 47 parishes are also allowed to offer daily fantasy sports to residents.
However, it’s only limited to contests as fantasy sports competitions will not be considered gambling.
Democrat J.B. Pritzker of the state of New Illinois is known to be in favor of sports betting. This is surely going to have a huge as Pritzker defeat the previous Republican governor of the state.
In fact, Pritzker had already mentioned in the past that he’s a supporter of sports betting legalization.
These are the five most significant changes brought by the midterm’s election in the US. Hopefully, these changes will continue to flourish until new legislation are made for legalizing online gambling.
Gambling can cause illicit activities, but countries still allow this industry to roam free. This is because the gambling industry is one of the industries that contributes the most to the nation’s tax revenue.
Here we look at the tax revenue contributions of the online gambling industry here in the United States.
In Pennsylvania, their gambling revenue is around $6.8 billion on average. Their tax rate made it possible for the government to procure $2.8 billion of the total revenue of the gambling industry.
However, this may increase due to bills getting put forward that expands the freedom of online gambling facilities.
Nevada is one of the places in the world that have the lowest tax rate for their gambling revenue. In fact, this is where you can find the most popular casinos in the world, and it’s only natural they have the highest gambling revenue, reaching $11.1 billion.
Of this revenue, they bring an estimated tax revenue of $745 million to the US.
Since the opening of online casino and poker sites in November 2013, casino revenues have increased slowly. Their total gambling revenue is $5.8 billion, while $1.8 billion of this is from online gambling revenue.
This is enough to make up for their tax rate as they were required to bring $1.2 billion for their tax.
Lottery facilities have a tax rate of 100% on the first $3 million revenue they generate each year. This is why racinos aren’t getting any money from online gambling. This ended as leaving facilities with no motivation to promote the games.
As for the side of online poker gaming, they were only able to generate $30,000 each month.
These are the reasons why the gambling industry of the state only generated $635 million which only comes from casinos, with $253 as the tax revenue from gambling.
While some of these states aren’t exactly in the best situation, we expect that their circumstances will at least become better for the next few months, as many legislations will be put forward by that time.
For anyone who loves gambling, being a dealer in casinos may seem the greatest job in the world. Not only will you earn money, but you’ll also be able to play, or at least be part of the games you love.
Today we’ll be talking about how much a dealer can earn in an online casino, particularly as a live dealer in live casino games.
This is the most important question you should be asking yourself when considering becoming a casino dealer. While the answer to the question varies, there are many factors that may help you decide if this job is right for you.
It’s important to understand that games such as blackjack, poker, baccarat, or any other casino games for that matter, pay out the minimum wage… usually. This may range from $7 to $8 an hour, or it can go up to $10 the more you work for that casino.
According to statistics, you’ll earn an average of $14,500 a year in this job. This means you won’t be earning much in this job, but that’s if you don’t consider tips.
Tipping is the main source of income for dealers in online casinos, as well as in land-based casinos. While there are countries, except the United States, that don’t allow tipping, they provide a higher base salary for their dealers.
In fact, if you’re considering tipping, you can earn as much as $100,000, or at least $30,000, from accepting tips as a dealer.
While the job is great, it’s important to understand that your livelihood relies on how satisfied the players at your table are with your services. That’s precisely why you should consider being friendly, but not too friendly, to your fellow casino lovers.
So far, since there is a total of 50 states in the US, you can’t exactly call the nation free from online gambling restrictions. That is, considering that there are only three states at this moment that have legalized online gambling. Today, we look at these three states
New York is one of the first states that proposed legislation for the operation of online gambling facilities inside the United States.
This was made possible when Senator Joseph Addabbo introduced Senate Bill 18, which made it okay for players 21 years of age or over to play online poker legally.
Michigan’s legislation with online gambling isn’t in better shape than other states as an online gambling bill handed down by State Representative, Brandt Iden, was vetoed by Governor Rick Snyder, considering the issues regarding the Michigan Lottery.
Recently, lawmakers placed a new bill that makes online gambling legal in the state. That’s why West Virginia is perhaps the most likely of these states to have a legal online gambling operation this year.
The bill is HB 2178 and was introduced by State Representative Shawn Fluharty. Their goal is to legalize online casino gambling as well as online poker services, although only limited to the five retail casino brands existing in the state.
Advocates of online gambling in the United States are already making a move, including the government officials in each state.
Due to the recent bills regarding online gambling put forward to the governor’s desk, it’s expected to leave a feeling of uncertainty as to what the future of online gambling may be.
Hopefully, all three of these states will be open for online gambling facilities to operate this year. However, there’s no doubt that at least one of them would’ve legalized online gambling at the end of the year.