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Illinois Betting Tax Increase May Inspire Similar Moves in Other States
Illinois Considers Sports Wagering Amendments, Mississippi Still Without Hearing
March 30, 2019 Aleksandra Zolotic
Gambling regulation in the US is heading slowly yet proudly into some brighter days, with more and more states considering its legalization. Though charitable, pari-mutuel and tribal are currently the most wide-spread and regulated, more and more states are…
…pushing the idea of more allowed activities forward.
So far, only four states allow legal online gaming, whereas 10 of them have okayed sports betting. But, the situation is drastically changing. Here are some of the latest information on legislation in Mississippi and Illinois.
Current Situation In Illinois
There are two bodies in charge, the Illinois Gaming Board and Illinois Casino Gaming Association. State lottery holds an exclusive license over the casino, pari-mutuel betting, bingo and lottery products. Interactive commercial operators based in Illinois are prohibited, but…
…some offshore suppliers continue to deliver services to players from Illinois.
Casino, pari-mutuel betting, lottery, and bingo products operated by the State Lottery are permitted under State Law. Sports betting is under consideration. Age limits range between 18 and 21 years.
The surplus from the State Lottery is circulated to public education and local government. ission tax ranges between $2-3 per person, while graduated tax rate on riverboat casino products goes from 15-50% gross gaming revenue.
- 15% up to $25m
- 22.5% from US$25-50m
- 27.5% from $50-75m
- 32.5% from $75-100m
- 37.5% from $100-150m
- 45% from US$150-200m
- 50% on $200m+
Mississippi – Long Story Short
With Mississippi Gaming Commission as the one in charge, commercial operating licenses are awarded for land-based and riverboat casinos as well as slot facilities. Native Indian Tribes also operate venues under the established by the state. No state interactive onshore operators are allowed, while offshore ones continue to accept players from Mississippi.
Gaming Act authorizes the licensing of casinos to operate gaming machine and table games, while sports betting is permitted in land-based hubs. All ed non-profit organizations and associations are allowed to operate bingo, whereas…
… lotteries are prohibited within the market.
Age limits in Mississippi are the same as Illinois. As for the taxes, all the casino activities are taxed at a progressive rate of 8% of gross gaming revenue, with the local authorities allowed to impose up to 4% additional GGR.
Legalization To Be Continued
Mississippi is one of the several states in the US which has legal sports betting, and if it is to believe what the numbers and revenue say, December was the best month yet! But, sad to notice, Mississippi didn’t receive hearings for HB 1481 nor SB 2667.
On the other hand, Illinois is still not on the ‘approved’ list. However, they are currently running the rule on four sports wagering amendments…
…which are supposed to regulate various aspects of this form of gambling. The session will run until May 31st this year.
Source:
“H2 Gambling Capital”, h2gc.com, March 27, 2019.
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Things cannot change overnight, that’s for sure, but they are certainly going in a positive direction. People will generally refer to gambling as a bad activity, true that, but if regulated strictly and well, things can work fine.