Category Archives: Gambling

ANNE ARUNDEL COUNTY, MD Maryland finished its legislative session on April 12, bringing new laws to the state. These laws affect everything from alcohol sales to unemployment insurance and sports gambling. Some legislation also let Anne Arundel County raise taxes based on income.

Patch recently partnered with several local organizations to bring you their latest news. This guest contribution comes from the Anne Arundel Chamber of Commerce. Here's what President and CEO Mark Kleinschmidt wrote about the new laws:

"The Chamber's Legislative Committee meets every month to discuss public policy issues and monitor legislation that is being considered by the Annapolis City Council, Anne Arundel County Council, and the General Assembly. Sometimes the Committee will look at a piece of legislation that is being considered by the US Congress.

The role of the Committee is to identify legislative issues that can help or hurt the operation of business in Anne Arundel County and formulate a position of opposition or support.

The Committee keeps a close eye on the legislative process and once an issue of interest is identified, they will complete additional research and meet with elected and government officials to gather even more information and gain a better understanding of the politics behind the issue.

The Chamber seeks to maintain a cooperative relationship with elected officials so we can provide our input and comments about a particular piece of legislation or policy and explain how it might impact local businesses. Occasionally the Committee will develop a policy recommendation for the Chamber's Board of Directors about proposed legislation and ask the Chamber to take a formal position.

Each year, once the dust settles from the legislative session[,] the Chamber holds a wrap up meeting for the membership to provide a high level overview about recently passed legislation and how it might impact the operation of their business and [affect] future economic conditions. This year's Legislative [Wrap] Up meeting was held virtually and had about 35 attendees. Here are a few highlights from the meeting.

Last March when the uncertainty of COVID-19 took hold, the General Assembly was faced with predictions of large budget shortfalls. This did not happen due to several rounds of stimulus funding from the federal government.

With $3.9 billion in federal pandemic relief, lawmakers approved a $52 billion Maryland budget. The governor and the Maryland General Assembly worked together on the RELIEF Act, which provided more than $1 Billion in targeted tax relief and economic stimulus for families and small businesses.

The influx of federal dollars helped stabilize the State's budget and provide much needed financial support to citizens and businesses throughout the State.

Business owners throughout the State are concerned about a potentially large increase in the amount of unemployment insurance they will have to pay due to the large spike in unemployment caused by [the] pandemic.

To address this concern, the RELIEF Act indicated that unemployment insurance rates for 2021 would be calculated based upon business' experiences from 2017, 2018, 2019, and would exclude 2020.

This provision, along with over a billion dollars of federal money that the state was able to backfill into the unemployment insurance fund, was meant to stabilize unemployment insurance rates. There is still concern about rates increasing even after the [legislation] was passed.

The Legislative Committee is continuing to monitor this situation.

Very soon you will be able to place a legal bet on your favorite sports team or event.

The General Assembly approved sports wagering at Maryland's six casinos, thoroughbred racetracks, the three major professional sports venues, existing off-track betting facilities, and commercial bingo licensees. The bill also allows for up to 30 additional on-premises wagering sites, and up to 60 mobile wagering licenses.

The casinos and racetracks will likely be the first to actually offer wagering, followed by licensing and a competitive process for the additional on-premises and mobile licenses.

The goal is to have at least some wagering available by the 2021 NFL season, and the full licensing process is expected to take 12-24 months.

Legislation was passed that will allow the sale of beer and wine in movie theaters.

Another bill hoping to stimulate business for bars, restaurants and taverns authorized local liquor boards to adopt ordinances that allow the sale of carry out beverages through July, 2023[.]

While this legislative session has come to an end, the Chamber is still concerned about a number of issues and legislative proposals that will most likely return ... in 2022. During the Legislative Wrap Up, the [following] concerns were outlined:

The Time to Care Act of 2021 would have established a Family and Medical Leave Insurance Program similar to the way that the unemployment system is set up. Employers and employees would split payments into the fund and employees would be entitled to receive benefits under that fund.

Though this bill did not receive a vote in either chamber, it will most likely resurface in 2022.

The General Assembly authorized [the] Anne Arundel County Council to enact two new tax increases. The County Progressive Income Tax and the Transfer Tax Surcharge are of great concern to the Chamber. Over the next few months, the Legislative Committee will be reaching out to the County Council to express our concerns.

This session was the first in years that we have not seen a bill introduced that would require employers (with certain exceptions) to provide employees with their schedules a certain number of days in advance. This would be a burden on small and large employers and the Chamber will continue to monitor any movement of this bill.

Mark Kleinschmidt is the President/CEO of the Anne Arundel Chamber of Commerce located in Annapolis, MD. "

Subscribe to your local Patch newsletter. Download our mobile application from the App Store or Google Play.

RELATED:

Have a story idea? Please contact me at jacob.baumgart@patch.com with any pitches, tips or questions. Follow me on Twitter @JacobBaumgart and on Facebook @JacobBaumgartJournalist to stay up-to-date with the latest Anne Arundel County and Prince George's County news.

See the rest here:

Beer At Theaters, Sports Gambling: Businesses React To New Laws - Patch.com

This morning, I wrote how Apples $64 billion-a-year App Store isnt catching incredibly obvious multimillion-dollar scams because the company isnt even bothering to audit its most profitable apps for fraud, and how app developer Kosta Eleftheriou is showing the company how its done.

But thats not the only kind of scam Eleftheriou has been uncovering in Apples App Store he has also discovered that Apples review teams have been approving games that transform into secret gambling dens when you access them from certain countries (or via VPN). We wrote about two of them last Thursday as if they were an isolated incident, but hes now found at least two more, suggesting this may be a trend including a match-three puzzle game dubbed Lucky Stars that turns into a casino if you open it in Russia, and a game called Vegas Pirates that does the same.

In some ways, theyre even more egregious examples: while it might be more shocking that a kids monkey-collecting-bananas game would transform into a gambling den, these new apps would seem to invite extra scrutiny with their gambling-oriented visuals and the fact they pretended a Russian news organization was their developer website.

Theyre both gone now.

If youre looking for shock value, Eleftheriou also spotted this unrelated app the other day:

Apple is testifying before Congress today and in an incredibly high-profile court case against Epic Games next month about how its App Store protects users, justifies the companys traditional 30-percent cut (reportedly $64 billion last year alone), and shouldnt be broken up. These kinds of discoveries are giving the companys critics a lot of ammo.

Originally posted here:

Apple approved another secret gambling den, masquerading as a puzzle game - The Verge

Even though Michigan has recently legalized online gambling, a recent study found that Michigan is still one of the least gambling-addicted states in the country.

Our friends at WalletHub.com recently conducted a study to determine2021'sMost Gambling-Addicted States and Michigan turned out the be one of the least addicted states in the country. In the rankings, Michigan landed at 47th on that list, only being beaten out by Maine, North Carolina, and Utah. Michigan was even found to have lowest percentage of adults with gambling disorders.

It's actually a little bit surprising that Michigan ranked so low becauseit seems like the recent legalization of online gambling would increase our ranking. What's not surprising are that Nevada is the most gambling-addicted state (Las Vegas, duh) and Utah is the least addicted (Mormons don't gamble).

Below you can see the 5 most and least gambling-addicted states.

5 Most Gambling-Addicted States

5Least Gambling-Addicted States

You can check out the map below and see how all of the other states rank below.

The methodology that WalletHub used looked at two key dimensions: "Gambling-Friendliness", which focuses on plentiful casinos are in the state and how easy it is to gamble, andGambling Problem & Treatment, that focuses on gambling addiction. Each of those key dimensions are further broken down into other metrics, which are weighted to determine the state's rankings. You can read more about the methodology here.

View original post here:

Michigan Is One Of The Least Gambling-Addicted States - Mix 95.7FM - Today's Variety

The Las Vegas Sands Corp. is taking its lobbying efforts for expanded gambling in Texas to the next level.

According to a report from The Texas Tribune, the company is launching a multimillion-dollar advertising blitz to build support for its mission to bring casinos to the Lone Star State. The blitz includes radio and television ads that tell its listeners that the state is losing out on billions of dollars as Texans head to neighboring states with more favorable gambling laws to spend their money.

The ads highlight legislation currently circulating through the legislature that is backed by the gaming company. The bill would allow the issue to be voted on by the citizens of the state through a ballot initiative this November.

If passed at the ballot box, the gambling ban in the state constitutional would be overturned via an amendment and Las Vegas-style casinos could be brought to Texas. The proposal, HJR 133, was filed last month by Republican Rep. John Kuempel. A similar version of the bill, SJR 49, was submitted in the Senate by Democratic Sen. Carol Alvarado.

The legislation would allow the state to award four casino licenses for companies to build four destination resorts in Dallas, Houston, San Antonio and Austin. Given the efforts put forth by Sands, which started last November when the company hired eight lobbyists in Austin, its likely they would be one of the front runners to be one of the licensees.

The company sold both of its Las Vegas Strip properties at the start of March for $6.25 billion, which leaves it with a bunch of excess cash and without an American casino.

It appears the company, which currently only has properties in Macau and Singapore, will be using the cash from the Las Vegas sale to get a casino in Texas. A representative from Sands said in March that the company would be focusing its efforts on the Dallas market.

Despite bipartisan support, it wont be an easy path to get the bills through the legislature. Both are still pending and several prominent figures are staunchly against bringing gambling to the state. In February, Lt. Gov. Dan Patrick said that gambling bills wont see the light of day during the current legislative session.

Read more:

Las Vegas Sands Corp. Runs Expanded Gambling Advertising Campaign In Texas - CardPlayer.com

Personally, I love gambling. Just the adrenaline rush of putting your money on the line and getting that winning hand is so much fun. I will not say I am addicted to gambling but I for sure enjoy it.

Wallet Hub recently made a list of 2021's Most Gambling Addicted States. To be able to put the list together Wallet Hub mentioned that the company looked at metrics such as "illegal gambling operations to lottery sales per capita to the share of adults with gambling disorders."

According to the list of 2021's Most Gambling Addicted State created by Wallet Hub, the state of New Jersey takes the 5th overall spot as one of the states with the most gambling addictions. That is pretty high up there. Atlantic City is just a short drive away. Is that possibly why the Garden State has such a high number of gambling addictions?

We also learned from Wallet Hub that New Jersey takes the 5th spot for most gambling arrests per capita. On top of that, the state takes 5th in the highest percentage of adults with gambling disorders. Those rankings are definitely not something to be proud of.

Other categories that were also ranked included Gambling Friendliness and Gambling Problem & Treatment.

New Jersey landed 9th for Gambling Friendliness and 15th for Gambling Problem & Treatment.

Pennsylvania lands almost right in the middle of all 50 states, taking the 24th spot overall when it comes to gambling addiction. It is not hard to guess that the number 1 state with gambling addiction is Nevada. They have Las Vegas, how can they not be?

Read on to learn the average life expectancy in each state.

Here is the original post:

New Jersey Is One Of The State With The Most Gambling Addiction - 94.5 PST

The emergence of esports as a serious competitive sporting event has been unprecedented in its rapidity. Even now, esports is both massively popular and relatively niche, with the concept of video gaming tournaments remaining unknown to large sectors of the population. What is undeniable is the enormous fan base for esports, which eclipses that for some more traditional events. In 2019, the peak viewership for the League of Legends World Championship was 44 million, compared to just 9 million for the mens final at Wimbledon that same year. The nature of esports makes it more difficult to regulate than other types of sport, especially when it comes to betting and gambling.

For casino and sports betting sites, capturing a slice of the $15 billion esports betting market could be highly lucrative. Unsurprisingly, many newonline casinos include esports betting in their services, with some sites dedicated to nothing else. For the betting industry, capitalizing on esports betting is imperative, but it doesnt come without complications.

There are many reasons that esports are an attractive prospect for casino and sportsbooks. For a start, they bring a younger audience to their services. Data shows that the majority of online gamblers are over the age of 35, while esports fans are on average around a decade younger. For casinos, part of their long-term strategy must be to adapt to what the next generation wants.

Another boon for esports betting is its resilience. 2020 was a disastrous year for traditional sports markets, but the pandemic increased the audience for esports considerably. New viewers flocked to lockdown tournaments, especially for sports games such as FIFA, as a way to compensate for the live events that they were missing. As expected, betting on these tournaments also increased in the UK the gross gambling yield from esports leaped by 124%between April and May of 2020. Even as traditional sports betting collapsed, esports betting has proved to be a valuable revenue stream for online gambling sites during an uncertain period.

During the sports drought of the pandemic, events such as the Virtual Grand Prix gained new popularity. However, the majority of monetized esports are still more traditional video games such as CS:GO and League of Legends. One major challenge facing bookmakers is how to tabulate the odds for matches and tournaments in what is a relatively new arena. Sites that specialize purely in esports betting are still seen as more reliable by these bettors. Virtual versions of real-world sports do not follow the same patterns as the leagues and teams that spectators are familiar with.

Another potential issue that esports betting could be facing is how it is characterized in law. Policy makers have so far struggled to formulate legislation to manage how esports are conducted and regulated. One argument, given particular emphasis in the UK, is that esports are fundamentally different from physical sports events and must be treated as such.

Esports, the reasoning goes, are not purely skill-based games because some events are determined by a random number generator (RNG). Therefore, there are grounds to classify the tournaments themselves as a kind of gambling, even without the added layer of betting on the outcome. Should this line of reasoning go forward, the future of esports in the UK is thrown into doubt. Having the sector regulated as a form of gambling would make things much more complicated, and would cut off the possibility of having a betting market attached. With a review of the UK gambling laws imminent, this could have serious consequences not just for betting, but for esports as a whole.

At this time there are several pressing questions surrounding esports and the way that younger audiences are targeted and affected. Video games, and therefore any gambling related to them, by their nature appeal to a largely younger demographic. Related advertising targets these younger people, whether by accident or design. Questions have been raised over whether betting on esports risks encouraging a new generation of compulsive or problem gamblers.

The links between esports and young gamblers are not yet well-defined. Certainly there has been a significant rise in the number of young people involved in gambling activities, but these are not necessarily linked to esports. Studies suggest that the great majority of social media interaction with esports betting accounts is carried out by those under 24 years old.

Another concern is about the content of the video games themselves. A spotlight is currently on the use of so-called loot boxes in games, and whether they constitute gambling themselves or encourage players to engage in other forms of gambling. Loot boxes may satisfy the same neural reward centres as more overt forms of gambling, such as slot machines.

It seems that the video game industry is moving towards greater transparency for loot boxes, for example by clearly displaying the odds of receiving a certain item. With national regulators seemingly unable to agree on legislation, most regulation is coming from inside the industry at present. This has been largely driven by pushback from the gaming community, rather than external pressure from the authorities.

Originally posted here:

Esports and Gambling: A Complex Relationship - The Game Haus

Newark, New Jersey--(Newsfile Corp. - April 22, 2021) - Esports Entertainment Group, Inc. (NASDAQ: GMBL), (NASDAQ: GMBLW) (or the "Company"), an esports and online gambling company, announced its VIE.bet brand is the official sponsor of Beyond the Summit's ("BTS") upcoming CS:GO tournament, taking place online from May 14 to May 30, 2021.

"The Summit, produced by BTS, has always been an event that is exciting and entertaining across all esports communities," stated Bux Syed, Director of VIE. "Whether its CS:GO, Dota 2 or Smash Bros., the uniqueness of this event catches viewers from all over the world. My team and I are very excited to partner with BTS for this event."

Esports Entertainment Group's partnership with BTS specifically focuses on the North and South American CS:GO audience, and the event will be broadcasted live in Portuguese and English. VIE.bet will be offering live odds and specials throughout the event as the tournament's exclusive betting partner.

BTS's last CS:GO tournament, CS_Summit007, generated 19.3 million total live event views from 6.4 million unique viewers on the Twitch platform, with peak concurrent viewers of 236K and an average concurrent viewership of 47K.

BTS is one of the world's largest esports networks with over 20 billion lifetime minutes watched and the fifth most viewed Twitch channel of all time. BTS broadcasts are distributed in over 110 countries on both linear TV and digital outlets. BTS boasts a total social media reach of over five million total followers.

About Esports Entertainment Group

Esports Entertainment Group, Inc. is an esports and online gambling company. The Company operates a number of entities across three key pillars: 1) esports entertainment and infrastructure, 2) esports wagering, 3) iGaming. The Company maintains offices in New Jersey, the UK and Malta. The Company maintains offices in New Jersey, the UK and Malta. For more information visit http://www.esportsentertainmentgroup.com.

Story continues

FORWARD-LOOKING STATEMENTS

The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.

Contact:

U.S. Investor Relations RedChip Companies, Inc.Dave Gentry407-491-4498dave@redchip.com

Media & Investor Relations InquiriesJeff@esportsentertainmentgroup.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/81372

Go here to see the original:

Esports Entertainment Group Becomes Official Gambling Sponsor of Beyond the Summit's Upcoming CS:GO Tournament - Yahoo Finance

For anyone following the gambling conversation in the state of Alabama, you will find that we are closer to getting some form of a comprehensive gaming bill in this state than we have ever been.

It all started with the lottery, but that bill was swapped out for another bill that includes casino gaming and sports betting. It is a bill that is vaguely supported by Governor Kay Ivey and others under the guise of giving people the ability to vote on a lottery.

The more convoluted aspect of this bill is the bidding process for casinos that would be authorized under the proposal. There are multiple operators who want to have gambling in this state that are currently operating facilities in the areas in which the bill would authorize casinos.

Many lawmakers and citizens were worried that this was the government picking winners and losers; some tweaks opened the bidding process up to other gambling interests and objections subsided.

But should they have?

According to State Senator Sam Givhan (R-Huntsville), the new bidding process allows more bidders but still gives the entrenched interests the last bid; it also requires the casino sites are located at the quasi-legal facilities that currently run some gambling, whether the current operators of those facilities win the bid or not.

So, while that change seems to offer up a competition for gambling, its a facade.

Givhan noted in an interview with Huntsville WVNNs The Dale Jackson Show, You cant go across the street. You cant go down the road.

He thinks this limits who will bid on a gambling license. He said that the racetrack in Shorter is where the license will allow gambling in Macon County, for example.

Lets say they wanted to go out to a competitor one in Tuskegee, maybe get a little closer to Auburn, get a little closer to Atlanta, whatever, get a different setting, they cant do that. They are limited to that racetrack site in Shorter, he advised.

This all means that if you have a currently gambling operation, you have two advantages.

Not only do you get the last bid, with an option to snipe a license away from another bidder who may be interested in building a bigger and better facility, you also can signal that you refuse to sell your current operation before the bidding even starts, which would render the license worthless to anyone else.

This is not a free market. This is a government-mandated series of gambling and casino monopolies.

Not only can you not put casinos in the state where the markets might best be served, you have to use the current facilities already constructed if you want to bid for the licenses.

This is almost worse than the previous incarnations that just rewarded the previous gambling interests because it pretends to offer up the competition while ensuring that competition doesnt happen.

That Alabama State House should look at this and actually create a fair bidding process. Even if it has to be separated regionally, it doesnt have to be so slanted in favor of the current operators some who have skirted the line of legality for years.

Listen:

Dale Jacksonis a contributing writer to Yellowhammer News and hostsa talk show from 7-11 AM weekdays onWVNNand onTalk 99.5from 10AM to noon.

Read the rest here:

An interesting nugget is buried in the gambling bill that almost guarantees Alabama's gambling operations remain in control - Yellowhammer News

Despite many gambling activities being unlawful in Japan, the country has produced several movies with gambling themes over the decades. Here are five of the greatest that you simply must see.

The 2019 movie , which means Kakegurui Compulsive Gambler in English, is a live-action film based on the manga series of the same name. Directed by Hayato Kawai, the film is set in the fictional Hyakkaou Private Academy; a prestigious institution that has existed for 122 years. At the academy, students learn how to play casino games like (poker), (craps), and (casino roulette). They are ranked by their winnings, and the winners achieve fame, fortune, and dominance over the losers. But when a transfer student called Yumeko Jabami arrives at the academy one day, she raises the stakes even higher.

The 2020 movie Kaiji: Final Game is the last installment of the Kaiji series. It is a killer of a film and it was massively popular when released at cinemas in Japan. In fact, the whole Kaiji series of movies are so good that they make up three of the movies on this list. Unlike Kaiji: Final Games two predecessors, it is not inspired by a specific storyline from the manga it is based on. That may account for the fact that it is not quite on par with the previous two films, but it still stands out as one of the best Japanese films about gambling. The plot involves the gambling protagonist Kaiji having his life turned upside down when he is given a series of four challenges that he must complete.

This exciting 2009 live-action movie is based on Gambling Apocalypse: Kaiji, the first part of Nobuyuki Fukumotos manga series. The story follows a postgraduate named Kaiji who is unable to find work. So, instead, he spends his time vandalizing cars, drinking, and gambling. One day, a debt collector arrives and he gives Kaiji two choices. He can either spend ten years paying off the debt or board a gambling boat for one night to attempt to repay the debt and even make more. However, Kaiji is unaware of just how deadly the gambling competition is going to be.

The sequel to Kaiji is just as good as the original, and arguably even better. Kaiji 2 takes place a year after the first film, and Kaiji is back in the same debt-ridden situation. However, he is given an opportunity to clear his 200-million-yen debt by taking on a pachinko machine called The Swamp that can potentially pay out more than one billion yen. Pachinko machines are massively popular in Japan. They are sort of a Japanese version of slot games. While Kaiji thinks he stands a chance of winning the top payout, he is unaware that The Swamp machine is being controlled from a remote location to ensure it never pays out the one billion yen.

Undoubtedly the best Japanese movie with a gambling theme is 1964s Pale Flower. The Japanese film noir, directed by Masahiro Shinoda, follows a Yakuza hitman called Muraki who has just been released from jail. He goes to an illegal gambling parlor and soon falls in with a mysterious woman called Saeko who keeps asking Muraki to provide larger and larger stakes. The two then become involved in a mutually destructive relationship as they travel through the Japanese underworld together. The well-known film critic Roger Egbert named Pale Flower one of the greatest movies ever made, and we tend to agree.

See original here:

Five Must-see Japanese Movies with Gambling Themes - MovieViral

Difficult to miss these days is the barrage of visual advertising, particularly on television, touting the availability of online sports betting and gaming in Michigan whether it's Fanduel, Draft Kings, BetMGM or others.

Online sports betting and online gambling launched in January before the biggest professional football event of the year the Super Bowl.

Since then, online wagering is promising to be a tax windfall for Michigan from the hefty taxes charged to online casinos that offer gaming platforms.

But more gambling availability in Michigan also raises concerns about increased gambling addiction from the ability to wager from a home computer, tablet or cell phone at a time when people are still leery of moving about during the continuing coronavirus pandemic.

The potential of expanded gambling to exacerbate problems with problem gambling isnt lost on the state health department, which started March off with gambling abuse symposium. March was also Problem Gambling Awareness Month in Michigan.

As you look at the continual evolution of gambling and accessibility, we want to make sure we provide services, said Alia Lucas, who is with the Bureau of Substance Abuse and Addiction Services at the Michigan Department of Health and Human Services.

Among the services provided is a 24-hour hotline for people to seek help if they feel they might have a gambling problem. People who feel they have a gambling problem can also voluntarily place themselves on a disassociated list that bans them from accessing online gaming platforms or entering land-based casinos.

About one percent of the adult population in the United States has a severe gambling problem, according to the National Center for Responsible Gaming.

A gambling problem is defined as a need to gamble more money to achieve the desired excitement, symptoms of withdrawal if gambling stopped or reduced, and an inability to stop or reduce gambling. Criteria such as chasing losses are unique to gambling disorders.

The volume of calls made to the state 24-hour gambling hotline suggests the availability of online gaming may be cause for concern about an increase in problem gambling as the pandemic continues.

The number of calls jumped from 844 in December to 1,049 in January after online gaming and sports betting began, and then to 1,312 in February.

At least some of the online gaming activity is linked to the coronavirus pandemic, which has closed or reduced capacity at casinos in the past year, and given people access to gaming without the risk of leaving the house.

COVID has been impactful with gambling activity, Lucas said. Its typically a social activity. Not able to socialize, they have access which causes opportunity. Someone might be sitting next to you and engaging in gambling activity.

Gambling in general has been legal in Michigan since the 1980s on tribal lands, and expanded in the late 1990s when three casinos were added in Detroit.

Today, there are 26 land-based casinos in the state, most on tribal lands.

The list of online gaming and sports betting platforms is up to eight with the possibility of more to come as they affiliate with land-based operations and gain state gaming board approval.

Online gambling, or course, is the newest wrinkle in Michigans betting landscape, and it is proving to be lucrative for the operators and for the state.

Since online sports betting and gaming began in March, the state has collected piles of tax money from wagers made at online betting and gaming outlets in January and February, indicating that bettors are taking advantage of the online convenience rather than making a physical trip to any of the more than 25 tribal and land-based casinos in the state.

For online sports betting, the state charges operators 8.4% of the adjusted gross betting receipts. For online gaming, the states percentage ranges from 20-28%

So far, those percentages and willing online participation have meant big bucks for the state.

Online gaming operators took in $27.5 million in revenues in January and $75.19 million in February, resulting in payments to the state of $4.2 million in January and $14 million in February.

Sports betting is less lucrative, generating $13 million in revenues in January and $9.4 million in February, but only $111,695 in January and $142,239 in February in taxes to the state.

However, if February turns out to be an average month, the states yearly revenues from online gaming and sports betting could generate as much as $170 million for the state.

The money the state collects from online wagering goes to a variety of places 30% to Detroit, 5% to the state equine industry fund, and 65% to the states internet gambling fund.

The internet gambling fund sends a big part of its proceeds to the state school aid fund after siphoning off $2 million for support of first responders, and $500,000 for the prevention of compulsive gambling.

Read the original here:

Online gambling is a tax windfall for Michigan amid concerns of a rise in problem gambling - The Macomb Daily