Online gambling revenue on the rise for States

Except for Hawaii and Utah, which have no casinos or lotteries, all other states have some form of gambling and associated revenue. Three legalized gambling states include Nevada, New Jersey and Delaware. Nevada alone collected nearly $869 million in tax revenue from all forms of gambling in 2012. However, the biggest revenue from any form of gambling including lottery came from Pennsylvania at $1.4 billion in 2012.

Revenue collection from the Internet gambling becomes critical for states that have legalized gambling. Nevada applies the same gross gambling revenue tax rate for Internet gambling which is at 6.75 percent. New Jersey is expected to tax online gambling at 15 percent compared to its current eight percent gross gambling revenue tax rate for casinos. Delaware has a split revenue sharing program. For land based games it currently has a system that allows revenue from slots split 43.5 percent to the State, 10 percent to horse breeders and 46.5 percent to casinos after taking all expenses. The revenue from online games will be split 66.1 percent to casinos, 29.4 percent to the State and 4.5 percent to horse breeders. American accounts for approximately 10 percent of the worldwide total online gaming market and interest groups are pressing for Federal level legislation to legalize online gambling.