Legalization Of Betting In The United States Does Not Meet Expectations – Experts
In the united states since the countellation of paspa, the supreme court began a state race for the legalization of betting. However, experts doubt that the tax revenues from gambling business will be enough for social security of schools, paying pension debts and road construction.
States that legalized sports betting in the past year predict that the tax revenues from gambling business will be from $ 5 million in mississippi and western virginia and up to $ 20 million in new jersey. In any case, even if such results and will be achieved, the income received will be only 1% of local expenses, report profile media.
Even rhode island with the highest tax rate of 51% predicts tax revenues of $ 23.5 million, which will be only 0.25% of the budget.
States who have decided on legalization immediately after the abolition of paspa, do not declare huge income. So, in nevada, a long-owned monopoly on the provision of betting services, the income of the sector was rather modest. Namely 1% of the local budget.
According to the moody’s investors service report, income from legalization is only a small part of the income even in the states with the most developed markets – it is about 2% in colorado and a little more than 1% in washington.
«All the indicators analyzed by me say that the betting can not be considered «golden residential», – declared senator from ohio john eclond.
In addition, most experts believe that the actual income from betting in new jersey and other states will be lower than the stated indicators. Due to the chain reaction, more and more states are planning the legalization of rates for sports, so competition increases. For example, the new jersey market will have an impact on the markets of pennsylvania and new york, which probably legalize the rates in the current year.
According to the income of new jersey from the casino will be $ 5.2 million. 10 years after the first casino opened in neighboring pennsylvania, the incomes of the northeast state of the united states fell twice.
Recall that governor michigan imposed a veto to laws online gambling.