Canada

New Independent VIXIO GamblingCompliance Report Commissioned by Light & Wonder Estimates States Could Generate $6.35B in Annual Tax Revenue from Legal US iGaming

Published

2 years ago

August 4, 2022

Light & Wonder Inc. announced the release of an independent report, “U.S. iGaming State Tax Revenue Potential,” which was created by VIXIO GamblingCompliance at the Company’s request. The independent, first-of-its-kind report forecasts state-by-state projections of potential iGaming tax revenue in the United States. According to the report, states are projected to realize $6.35 billion in annual tax revenue from the adoption of iGaming. These forecasts were developed by VIXIO independent of the Company.

VIXIO’s report provides forecasts for the potential tax revenue that state governments could conservatively expect to earn if internet gaming, or iGaming, were legalized in each state that currently has either legal land-based casino gaming or online sports betting, or both. iGaming includes the operation of casino-style games such as slots and table games, offered via digital platforms through players’ own devices. While sports betting involves betting on real-world sporting events either in retail locations or through mobile devices, iGaming is completely an online platform.

“VIXIO’s report demonstrates that states are leaving billions of dollars in tax revenue on the table which could fund a variety of public programs and services without resorting to broad based taxes. The dozens of states that already have land-based casino gaming merely have to turn on the digital channel to realize tax revenues which are otherwise being siphoned off by the prevalence of illegal off-shore internet gaming,” Howard Glaser, Global Head of Government Affairs of Light & Wonder, said.

As detailed in the report, if iGaming is legalized in all 42 states that currently allow land-based casinos or mobile sports betting, the potential size of the U.S. iGaming market alone could total over $30 billion. VIXIO estimates this could translate to a combined $6.35 billion in annual state tax revenue, assuming a 20% tax rate in newly authorized states. According to the American Gaming Association (AGA), the six states in which iGaming is currently legal generated $970 million in gaming tax revenue in 2021, compared with $560 million generated in the 30 states with sports betting. The states in which iGaming is currently authorized are Connecticut, Delaware, Michigan, New Jersey, Pennsylvania, and West Virginia.

European Gaming Congress 2024 (Warsaw, Poland)

“New York is surrounded by iGaming states, namely New Jersey, Pennsylvania and Connecticut, which are witnessing hundreds of millions in annual revenue from iGaming. Those states have proven the model works and that iGaming can complement land-based casinos and ensure protections for players. When implemented safely and credibly, New York will also witness significant increases in revenue and educational funds from iGaming, while improving programs addressing gambling addiction. It makes no sense for New York to lose that revenue to neighboring states and the illegal offshore market,” New York Senator Joseph Addabbo, Chair of the NY State Senate Racing, Gaming and Wagering Committee, said.

“Indiana prides itself on taking a thoughtful, measured approach to gaming policy. With that in mind, we certainly recognize that iGaming, when structured properly, has the potential to attract a broader demographic, and to become a meaningful source of state tax revenue,” Indiana Senator Jon Ford, recently installed President of the National Council of Legislators from Gaming States (NCLGS), said.

Bally Bet Sportsbook & Casino app

Bally’s Interactive Launches the New Bally Bet Sportsbook & Casino App in Ontario

Published

3 days ago

December 20, 2024

GamingAmericas.com

bally’s-interactive-launches-the-new-bally-bet-sportsbook-&-casino-app-in-ontario

Bally’s Interactive, the digital and sports betting division of Bally’s Corporation, has launched the all-new Bally Bet Sportsbook & Casino app in Ontario, Canada. This latest release marks another significant milestone for the company, following the recent app update in New Jersey and a series of successful app launches in the past year, including the introduction of Bally Bet Sportsbook across multiple states and Bally Casino in Rhode Island.

The updated Bally Bet Sportsbook & Casino app represents a major step forward, as it combines the functionalities of the existing Bally Casino app and Bally Bet Sportsbook app into one comprehensive platform. Powered by White Hat Gaming, this new app allows players residing in or traveling to Ontario to conveniently place wagers on both sports and casino games using a single app, account, and universal wallet.

“We are thrilled to introduce the new Bally Bet Sportsbook & Casino app, marking a significant milestone for Bally’s. This integrated platform merges the features of our previous apps, providing players in Ontario with a seamless experience for both sports and casino betting. Our commitment to enhancing the player experience remains at the forefront as we strive to personalize the enjoyment of playing Bally Bet,” said Robeson Reeves, CEO of Bally’s Corporation.

BCLC

Be #GiftSmart: Scratch the Idea of Gifting Scratch & Win Tickets to Kids

Published

5 days ago

December 19, 2024

GamingAmericas.com

be-#giftsmart:-scratch-the-idea-of-gifting-scratch-&-win-tickets-to-kids

BCLC reminds adults to gift responsibly this holiday season

With the holiday season in full swing, BCLC is reminding British Columbians to gift responsibly and scratch lottery products from their shopping lists for kids.

“Scratch & Win tickets can make great stocking stuffers for the adults in your life, but they’re not for kids,” said Ryan McCarthy, BCLC’s Director of Player Health. “The research shows that children who have early encounters with gambling are four times more likely to develop riskier gambling behaviour as they grow up. While people are out shopping for those last-minute gifts, BCLC wants adults to be aware of the potential risks associated with gifting lottery products to children and to consider safer alternatives.”

While Scratch & Win tickets are among the most common ways kids can be introduced to gambling, children are increasingly exposed to various online forms, such as gambling streams.

“With the convergence of gaming and gambling, youth are becoming more exposed to gambling content in online spaces like streaming sites, where creators are able to live-stream their own gambling, usually while playing online slots and instant games,” said Dr. Luke Clark, Director for Gambling Research at UBC. “Our research at the UBC Centre for Gambling shows that a higher frequency of watching online gambling streams is associated with a more positive attitude towards gambling and a high intention to gamble in the future.”

In B.C., it is illegal to sell lottery products to anyone under the age of 19 and BCLC encourages adults to have conversations with the kids in their lives about the risks associated with gambling.

“Open and honest conversations are crucial when it comes to navigating childhood exposure to gambling,” said McCarthy, who shared the following tips to adults:

Monitor for gambling-related lifestyle changes. For example, developing a positive attitude towards gambling or a preoccupation with video games or streaming sites.
Be a positive role model. Exhibit safer gambling behaviour and talk about the risks.
Limit exposure. Monitor kids’ online activities and discourage engagement with gambling content. Explain how gambling is based on chance.

AGCO

Jackpot Digital Receives Approval from AGCO as a Registered Gaming Supplier

Published

1 week ago

December 16, 2024

GamingAmericas.com

jackpot-digital-receives-approval-from-agco-as-a-registered-gaming-supplier

Jackpot Digital Inc., a leading provider of innovative dealerless electronic poker gaming solutions, has announced that the Alcohol and Gaming Commission of Ontario (AGCO) has approved the Company to be licensed as a registered Gaming Related-Supplier (the “Supplier License”) under the Gaming Control Act in the Province of Ontario.

This significant achievement allows Jackpot Digital to enter one of the most dynamic and rapidly growing regulated gaming markets in North America. The Supplier License authorizes Jackpot Digital to supply its electronic table games to Ontario’s gaming venues, including casinos and other regulated gaming facilities.

Jackpot Digital’s flagship product, the Jackpot Blitz electronic table game system, offers a modern, dealerless, player-friendly solution that integrates traditional multiplayer poker games with cutting-edge digital technology. The Supplier License will enable the Company to offer its innovative gaming solutions to operators throughout Ontario, driving new revenue opportunities and enhancing player experiences.

“Receiving AGCO’s approval is a major milestone. This approval provides us with the opportunity to offer our top-tier electronic gaming systems to operators throughout all of Ontario, positioning us for further growth in one of the world’s most robust gaming markets. We are excited to bring our innovative products to Ontario’s gaming community and continue our commitment to providing exciting, technology-driven entertainment experiences,” said Jake Kalpakian, CEO of Jackpot Digital.