Researchers concluded that annual iGaming revenue from 42 states would likely top $30 billion. Though the tax benefit would depend on what sort of tax rate each state would impose, the study assumed an average 20% levy. That would equate to around $6.35 billion.<\/strong><\/p>\nThe six states that allowed iGaming last year reported a collective tax benefit of roughly $970 million.<\/p>\n
iGaming Taxes Tops Sports Betting<\/b><\/h2>\n
Sports betting is one of a casino’s least profitable verticals.<\/p>\n
“Unlike other pieces in the gaming industry — slots, table games, etcetera, [sports betting] is a low-margin business. There are times when sportsbooks make money, and there are times when sportsbooks lose money,” explained American Gaming Association President Bill Miller.<\/p>\n
“And so the reality is, unlike with a slot hold or a table game hold, the percentage of revenue, vis-\u00e0-vis the overall handle, is always going to be a small number,” the gaming industry’s chief lobbyist added.<\/p>\n
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Sports betting being a low-margin business is why such gaming doesn’t generate nearly the same tax benefit as iGaming.<\/p>\n<\/div>\n
In 2021, the more than 30 states that permitted sports betting collected $560 million in associated taxes — $410 million less than what legal iGaming generated in only six states.<\/p>\n","protected":false},"excerpt":{"rendered":"
A new report on iGaming tax benefits suggests US states could reap around $6.35 billion annually from the expanded gaming should they choose to legalize it. VIXIO GamblingCompliance was contracted by Light & Wonder — formerly Scientific Games — to probe just how much tax money the US is leaving on the table each year […]<\/p>\n","protected":false},"author":25,"featured_media":224304,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[19,18943],"tags":[81871,82037],"acf":[],"yoast_head":"\n
iGaming Could Generate $6.35B in Annual Taxes Should Industry Expand<\/title>\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