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Is It Revenue Sharing Or High Taxes For Sports Betting? Ask Rhode Island, Delaware

“States should focus on the consumer experience and empower licensed, regulated operators the ability to offer a competitive product that fosters betting in a safe way and shuts down the illegal market,” said Sara Slane, the AGA’s senior vice president of public affairs. “High tax rates hinder the legal market’s ability to compete with shady, illegal operators that don’t pay taxes back to the state.” How the pie will be sliced in Rhode Island Rhode Island sports betting functions under the state’s lottery. Essentially, Twin Rivers casinos function as partners of the state in operating sports betting. IGT serves as the state’s official vendor in administering Rhode Island sports betting and receives a healthy http://jackpotssc8.buzzlatest.com share of revenue in return. Here’s how Rhode Island divvies up sports betting revenue: Put simply, for every $100 in sports betting revenue, Twin Rivers keeps $17 while Rhode Island grabs $51. While it does not have this designation, that essentially means Rhode Island set a 51 percent effective tax rate on sports betting revenue. The first state in the post- PASPA landscape to start up single-game wagering, Delaware sports betting also calls its system revenue-sharing. Three state casinos — Dover Downs, Delaware Park, and Harrington Raceway & Casino — are authorized to take sports wagers. “(Delaware) doesn’t tax the casinos, they are our partners and we revenue share,” said Vernon Kirk, the state’s lottery director, in an email to Legal Sports Report. “Video lottery, table games and sports betting all operate under the Lottery’s administrative and regulatory oversight. “For sports betting http://pokeronlineq12.metablogs.net at the casinos, after winners are paid, Scientific Games (central system, terminals, risk management) receives 12.5 percent.

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