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Matt Rybaltowski NCAA last December, Oxford Economics conducted a comprehensive study on the economic impact of a legalized U.S. sports betting market. The study, commissioned by the AGA, found that legal sports gambling could contribute up to $22.4 billion in U.S. GDP and $3.4 billion in local and state taxes. The findings are based on the assumption that sports betting would be offered in the 40 states that had casino gaming available as of 2016. Even if the estimates are accurate, the tax proceeds only represent a sliver of own-source revenues raised by state and local governments, said Lucy Dadayan, a senior policy analyst at the Rockefeller Institute of Government.  "It's naive to think that sports betting will be a budget saver," Dadayan said. "Moreover, it will likely end up having the fate of other forms of gambling. Most certainly it will generate some revenues for the early adopter states, which will encourage other states to follow the suit and legalize sports betting." Down the road, other states such as Pennsylvania, New York and Connecticut could be next in line. Pennsylvania, in particular, has taken steps to expand gambling swiftly, Dadayan noted. A proposed sports betting bill in the Keystone State attaches a 34 percent tax on http://pokeronlineu6d.recentblog.net revenue, on top of a 2 percent local share.

For the original version including any supplementary images or video, visit https://www.forbes.com/sites/mattrybaltowski/2018/06/14/as-sports-betting-launches-in-new-jersey-can-sports-books-remain-competitive-with-8-percent-tax/

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