Arkansas<\/a> and Mississippi allow waging at casino sportsbooks, but neither state permits online wagering.<\/p>\nTax Earnings Low<\/h2>\n The National Conference of State Legislatures last month noted in a report that potential tax revenue is \u201ca big selling point for legalizing sports betting in many states.\u201d<\/p>\n
While states view that tax revenue as helpful, especially during a pandemic-related downturn, the money is not always a massive windfall.\u00a0<\/span><\/p>\nOn average, sportsbooks only keep 7.2 percent of the total money bet on sporting events, the Associated Press reported. The rest is paid to winning bettors. Taxes are assessed on the amount sportsbooks keep, not the total that bettors wager.<\/p>\n
In Michigan, for instance, bettors wagered $302 million in February. After paying winning gamblers, the sportsbooks kept $9.5 million. The state received $142,240 in taxes, the AP reported.\u00a0<\/span><\/p>\nStates without mobile sports betting received even less. \u00a0<\/span><\/p>\n\n
Competition from other states could cut into the amount each state already receives, according to the National Conference of State Legislatures report.<\/p>\n<\/div>\n
\u201cStates looking to close budget gaps with sports betting revenue may be disappointed,\u201d the report notes, \u201cespecially as more and more states legalize and take their slice of the market.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
More than 80 percent of legal sports betting in the US is done online. That could go higher, as a half dozen more states are expected to approve online wagering this year. In 2019, a panel of experts at the East Coast Gaming Congress in Atlantic City predicted 90 percent of legal sports betting in […]<\/p>\n","protected":false},"author":55,"featured_media":170930,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1074],"tags":[],"acf":[],"yoast_head":"\n
Most Sports Betting is Online, As More States Plan to Go Mobile - Casino.org Most Sports Betting is Online, As More States Plan to Go Mobile<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n