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American Online Gambling Is A Long Way From Being All-American

American flag hot dog and potato chips The company calls Las Vegas, Nevada home base. Scientific Games employs around 9,500 people worldwide. CHUMBA CASINO OFFERS REAL MONEY CASINO GAMES - GET $2 FREE PLAY The Europeans seem to dominate online gambling either as operators or technology suppliers. With a few honorable exceptions such as Scientific Games, American companies and even Chinese companies don’t get a look in. Gambling has long been illegal in China.

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Sports Betting Makes Sense While Online Gambling Makes Dollars

However, revenue numbers for the first six weeks in the state that fought the legal battle to launch sports betting clearly show it isn’t worth as much as anyone hoped. State lawmakers are desperate to find sources of tax revenue to help balance the budget. They get sold on sports betting based on the idea the state can get a piece of the estimated $150 billion wagered annually (according to the American Gaming Association.) Unfortunately, they soon find out they can’t tax handle. So, while Americans may very well bet upwards of $150 billion on sports this year, the piece that sportsbooks keep in revenue and the tax revenue generated ends up significantly smaller. Numbers released by the New Jersey Division of Gaming Enforcement this week showed two significant things. The first is that NJ sportsbooks have taken in more than $57 million in bets since launch in mid-June. The second is that the operations earned just $7.3 million of that in revenue. The state’s land-based sports betting revenue tax rate sits at 8.5 percent. Therefore, New Jersey’s piece of the pie has amounted to approximately $620,500 so far.

For the original version including any supplementary images or video, visit https://www.playusa.com/sports-betting-online-gambling/

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