"Billions of tax revenue would be generated if all 50 states in the US made sports betting legal, a report by the Tax Foundation claims. If all states established statewide gambling markets, the Tax Foundation estimates that gross gaming revenue (GGR) would increase by $15.6 billion per year. If all 50 states established legal, open, statewide sports gaming markets, a 10 percent GGR tax would generate an additional $1.6 billion per year in tax revenue."
"This figure is more than double what is being reported right now, and legal sports betting in all states would generate $1.6 billion annually in tax revenue, assuming a 10% GGR tax. Despite most states legalizing sports wagering in some form, only 30 states allow bettors to utilize online betting platforms. Should legalization occur in all states, the biggest tax revenue gains would occur in California ($570 million), Texas ($326 million) and Florida ($199 million), which would contribute significantly to the economy."
The Tax Foundation estimates that nationwide legalization of sports betting would raise gross gaming revenue by $15.6 billion annually. A 10% GGR tax on fully legalized, open, statewide sports gaming markets would generate about $1.6 billion per year in tax revenue. Currently only 30 states permit online betting platforms despite most states legalizing sports wagering in some form. Missouri recently legalized sports betting and launched state-regulated sportsbooks late last year, leaving 11 states without legal sports betting. California ($570 million), Texas ($326 million) and Florida ($199 million) would produce the largest tax gains. Smaller states like Hawaii and Idaho would still generate millions annually.
Read at ReadWrite
Unable to calculate read time
Collection
[
|
...
]