American states mull gambling tax benefits
Posted by Sarah Banks on 07 Aug 2009 at 09:08
More attention is being focused on whether or not some American states will turn to legalising gambling as a way to drum up extra tax revenue during the recession.
Gambling 911 reported recently how Massachusetts republican governor candidate Christy Mihos is looking for his state to legalise betting on professional and college sports. He said this could back up the state lottery and provide more than one billion dollars annually.
Mihos has said this could be done quickly and added Massachusetts averages $829 per capita spending on the state lottery which is much higher than states such as New Jersey.
The candidate also said sports betting could drum up $400 billion.
Massachusetts is not alone with Ohio also looking to do something similar. The state has warmed to the idea of slot machines at horse race tracks. However Governor Ted Strickland and other leaders want to cut out gambling money, or at least restrict it, as far as their campaign cash is concerned, in an effort to bolster confidence in state government.
Republican politicians have said they would not rule out an expansion of gambling in Ohio.
Gambling 911 added that, according to Moody's, the state could legalise gambling in less than a year which might pressurise gambling in states nearby.
Connecticut is already the host of two popular Indian casinos, but feels it may need to expand further.
According to Gambling 911 a study of the state's legalised gambling discovered it has brought in plenty of cash but failed to capitalise on revenue from casinos.
Although Delaware and New Jersey have legalised sports betting, generating plenty of revenue in the process, it has come with consequences.
The big four major pro sports leagues and the NCAA have gone to ask a federal judge for a preliminary injunction to stop Delaware from implementing its sports betting plan.
This motion was filed in central court in Delaware and put in detail fears of how sports could be affected, Gambling 911 says.
But odds favour Delaware at least being able to move forward, and this should allow other states to do the same.
