Legal compliance in the US igaming market is crucial for it to reach its full potential, according to industry experts. One key aspect that could impact the growth of igaming in the US is ensuring that taxation levels remain reasonable and not prohibitive. This will allow igaming suppliers to innovate and offer a wider range of products to players, including online casino games and internet-based sports betting.
States have the authority to set tax rates that are more favorable for the igaming industry. For example, Nevada has a low tax rate of 6.75% of gross gaming revenue for land-based casinos, which has helped establish the state as a leading market. In contrast, New York taxes sports betting at a much higher rate of 51% of GGR.
Industry leaders emphasize the importance of maintaining low gaming taxes and a diverse offering to attract investment and foster growth in the online gaming sector. States like Nevada and New Jersey, with their low tax rates and comprehensive gaming offerings, have successfully attracted investment and become popular destinations for tourists.
For online gaming to flourish, it is essential to provide a wide range of gaming options, including sports betting, slots, skill-based games, table games, and live casino with innovative game shows. By creating a conducive regulatory environment with reasonable taxation levels, the US has the potential to become the leading igaming market globally.
