Sports Betting Not a Windfall for States After All

Written by:
Aaron Goldstein
Published on:

Cash strapped states are looking to sports betting as the pot at the end of the rainbow. 

*Free trial test drive
*Text or message 24/7
*Mobile friendly
*Live in-play betting
*Bitcoin, gift cards, credit cards accepted
*Fastest, sharpest lines in the industry
*No minimum number of players
*Unique betting options available
*Two software platforms available for use
Click here to visit PremierPerHead

One tax policy expert says sports betting is not — and never will be — a major source of tax revenue for states, and states are now starting to figure that out.

“Windfall? Boon? These are all things that should raise red flags,” says Richard Auxier, research associate in the Urban-Brookings Tax Policy Center at the Urban Institute.

“Billions turns into hundreds of millions for the sports books. And then the states will typically tax like 10% to 15% of that,” he says. “So now we're only talking about a couple of million dollars.”

It’s not all doom and gloom.  New Jersey has enjoyed great success with sports betting so far.

Auxier says that’s because they already had the infrastructure in place and embraced online wagering, which now accounts for up to 80%.

But in other states, it’s been less of a win, Yahoo Finance notes. In the District of Columbia and Tennessee for example, according to Auxier, there wasn’t a gaming-friendly infrastructure in place so the start wasn’t as smooth. Other states like Pennsylvania had issues with their licensing fees. Still others like Rhode Island decided not to allow online gambling.

Watch The Video Here

- Aaron Goldstein, Gambling911.com

Gambling News

eSports Gambling News

Gambling911.com has all your latest eSports gambling news. 

How Does a Sports Betting Site Work

How Does a Sports Betting Site Work

If you are looking to have a sportsbook then the first and foremost thing you will need to do is get with a pay per head company who can set you up so you can have your own sportsbook for people to bet with you on.

Gambling and Sports Betting News Wire - November 21, 2019

Here are today's headlines in the world of gambling and sports betting as they happen - Thursday November 21, 2019.

The Gambling911.com Crime Blog

The Gambling911.com Crime Blog

Welcome to the Gambling911.com Crime Blog, all the latest news and social media stories about gambling-related crime as well as organized crime.

Oddschecker Big Price Change Lag Time Now Under 10 Seconds

Oddschecker Big Price Change Lag Time Now Under 10 Seconds

Leading odds comparison site Oddschecker has gotten its big price change lag time down to under 10 seconds as the site continues working on a project that seeks to change how it processes bookmakers’ odds.