iGamingBusiness’ Post

As outlined in this excellent piece by Steve Bittenbender, NYS - facing a $4B+ deficit next year- would realize around $1B from iGaming (tax rev & license fees). Every dollar from iGaming is a dollar less in broad based tax increases or spending cuts. NY is a major casino gaming state - lawmakers simply have to turn on the digital channel to drive revenue that will dwarf the iGaming neighbors that surround them (PA NJ CT Ontario RI). It’s a simple prescription: —Regulate —Tax —Protect Consumers from illegal operators. #igaming

Assemblyman J Gary Pretlow gave New Yorkers a Valentine's Day present: a New York State Assembly version of state Sen. Joe Addabbo's online casino, poker, and iLottery bill. Addabbo told Bonus today that analysts believe a mature New York iGaming market will generate $4 billion annually in tax revenue. Signing the iGaming and iLottery bill into law in 2024 would bring 2025 revenue right when New York needs it, Addabbo told Bonus. He predicts constituents will not like the budget cuts he expects to see because of an upcoming deficit, and iGaming would offset that. https://lnkd.in/etRQqTMu #onlinecasinogambling #onlinepokergambling #ilottery

German gambling stakeholders have reiterated their warning to federal lawmakers, emphasizing that "the legal offering must be strengthened" to protect German consumers who are actively targeted by black-market operators. ⚠️🎰 The warning was prominently featured during the 'Parliamentary Evening' on 21 September in Dusseldorf, co-hosted by the German Online Casino Association (DOCV) and the German Sports Betting Association (DSWV). 🏛️🇩🇪 Dr. Dirk Quermann, DOCV President, supported Rasche's conclusion, reflecting on the negative effects seen across all German online gambling verticals. Quermann brought attention to "the increasingly virulent problem of the black market," noting alarming developments in "tax volume decreases" as highlighted in DOCV's assessment. 💼📊🚫 #GamingRegulation #Gluneurstv #MarketFix #Marketing2023 #SBCNews #MediaTrends #Entertainment #TVIndustry #MediaAnalysis #MarketingStrategies #MarketInsights #Broadcasting #MediaFix #DigitalMedia #MediaChallenges #IndustryNews #MediaSolutions #MarketingTrends #TVMarket #DigitalStrategy #MediaInnovation #MediaReform #BroadcastingIssues #IndustryUpdates #MarketFixing #MediaDiscussion #MediaExperts #GluneurstvMarket Read More⬇️ https://lnkd.in/eMt3x2gg

A good reminder that whether your state has legalized online sports betting or not, it is still happening. Legalization is not a question on whether to have sports betting or not, its a question on whether you want the sports betting to have regulatory oversight and pay taxes. #gamblingindustry #gamblingnews #sportsbetting #regulation

German gambling stakeholders have reiterated their warning to federal lawmakers, emphasising that “the legal offering must be strengthened” to protect German consumers who are actively targeted by black-market operators. 🎰🚨 The warning was prominently featured during the ‘Parliamentary Evening’ on 21 September in Dusseldorf, co-hosted by the German Online Casino Association (DOCV) and the German Sports Betting Association (DSWV). 🏛️🎙️ Headline speaker Christof Rasche, the Vice President of the State Parliament of North Rhine-Westphalia, argued that the existing rules of the 2021 Interstate Gambling Treaty (GlüNeuRStv) had failed to deliver a “controlled system protecting consumers”, advocating urgently for substantive changes. 📜🔍 Dr. Dirk Quermann, DOCV President, supported Rasche’s conclusion, reflecting on the negative effects seen across all German online gambling verticals. Quermann brought attention to “the increasingly virulent problem of the black market,” noting alarming developments in “tax volume decreases” as highlighted in DOCV’s assessment. ⚠️💻📊 #GGL #Gluneurstv #LotteryDaily #MarketRestrictions #EuropeNews #GlobalGaming #PressureOnGGL #OnlineGambling #Regulations #EuropeanMarket #GamingNews #RestrictionsLifted #LotteryUpdates #GamingIndustry #EuropeanGaming #OnlineLottery #NewsAlert #RegulatoryPressure #GGLNews #MarketInsights #LotteryMarket #GamingRestrictions #EuropeBusiness #LotteryIndustry #GGLPressure #MarketTrends #GlobalLottery #GamingRegulations #LotteryBusiness #EuropeUpdates #GGLMarket #GamblingNews Read More⬇️ https://lnkd.in/eEmhCazQ

🇺🇸🚫 Maryland's push to legalize online casinos hits a roadblock, delaying any possible legislation until at least 2026. Despite strong support in the House, where the bill secured a 92-43 vote, the Senate showed considerable hesitation. Concerns from traditional casino operators about potential revenue cannibalization and problem gambling risks played a significant role in the decision-making process. The proposed bill, which would have allowed voters to decide on amending the state constitution like the successful sports betting initiative in 2020, did not advance in the Senate. This pause sets Maryland's online gambling aspirations back until at least 2026, showing the complex interplay between existing gaming interests and new market entrants. 👉 Read more here: https://lnkd.in/d3p_nt2g #OnlineGambling #Maryland #Legislation #CasinoIndustry

*Brazil lower house approves gambling bill* 👍 Brazil's Chamber of Deputies have approved the country's gambling bill, which regulates sports betting and online casino. 💬 The bill now heads to the Federal Senate, which has 45 days to comment. The proposed law includes: ⚽ 18% revenue tax (rising to 31-34% after additional contributions) ⚽ R$30m licence fee for three year term ⚽ Bonus ban ⚽ Ban on foreign operators https://lnkd.in/eMevAbj4

🎰🎉 Rhode Island Becomes The 7th State to Legalize iGaming 🥳🎲 Sneaking in as lucky number 7, Rhode Island is now the seventh state to offer legal online casinos in the US!🎊 Gov. Dan McKee signed the iGaming bill into law on June 20, with SB948 authorizing online slots and table games to kick off as early as March 1, 2024. The Ocean State’s new law extends prominent gambling brand Bally’s monopoly over casinos in the state. It also puts Bally’s online arm Gamesys in the spotlight as the state’s exclusive operator. The business operates under several brands like Tropicana Casino and Virgin Casino. 🃏 The State Lottery Division of the Department of Revenue will oversee RI’s online casino gambling operations. Keep in mind – online slot revenue will be hit with a 50% tax, but the rest of the earnings will be shared between Bally’s and IGT. Table games, on the other hand, are facing a more lenient 18% revenue tax. 💸 However, Delaware’s 62.5% tax rate on online casinos and poker still reigns as one of the steepest. 💰 Howard Glaser, the Global Head of Government Affairs and Legislative Council at Light and Wonder (LNW), mentioned that the Ocean State is the only new online casino state this year and the first since October 19, 2021, when Connecticut stole the show. In stepping into the US online casino scene, Rhode Island will join the ranks of New Jersey, Pennsylvania, Michigan, West Virginia, Connecticut, and Delaware in making online casino gaming legal yet exciting! 🎰💻 #RhodeIsland #GamingNews #OnlineCasinos

How things change quickly in the gambling industry. Read the article below from my colleague David Artus about the new licensing laws being rejected. Is this uncertainty causing you a concern, move your business forward with an Isle of Man license. Come see us on Stand N6-120 at ICE or drop me an email on sferrario@domicilium.com or What's App/Telegram +44 7624 456165, it might just be the best decision that you make to grow your business. #TeamIsleofMan #licensing #ICE2024