Archive for the ‘State Page News’ Category

The choice is clear: Illinois can preserve a stable, regulated marketplace by maintaining a tax structure that keeps operators and players in the legal market. Pushing players to bet more and shifting them to the black market are not desirable outcomes for anyone.

High taxes push consumers toward offshore and illegal markets. If bettors feel squeezed by bad odds, fees and disappearing perks they may return to the unregulated platforms that are not burdened by punitive regulations.

Virginia’s shift to online gambling has been dramatic — and has led to significantly more money flowing to state coffers. But offshore betting websites — unregulated, illegal and untaxed — are on the rise and competing for gamblers’ dollars.

“FanDuel is committed to making a positive impact in the communities in which we operate, and we recognize the essential role that food security plays in helping families and communities thrive.”

Speaking at a meeting of the National Council of Legislators from Gaming States, Raoul predicted iCasinos would be among the next wave of expansion in a state that already is one of the nation’s largest gaming markets.

The potential negative impact on the sports betting industry and the broader economy from Louisiana’s House Bill 639, which proposes to increase the tax rate on sports betting in from 15% to 32.5%.