VIXIO GamblingCompliance together with SBC conducted the USA wagering regulatory study.
It determined that experts believe bids on sports will be legal in more than 45 states within 3 years. Also, they are concerned the taxation model of the Federal District of New YorkYork has a tendency to adopt in other jurisdictions.
Possible Threats
The study was based on the opinions of 140+ industry representatives on the expansionary capabilities of iGaming and possible government threats before the North American SBC exhibition in December 2021.
According to the majority of respondents, namely 21%, the most likely barrier to the development of the sphere is raising taxes and licence expenses.
Around 12−14% of respondents ranked the following positions as the second biggest detriments:
- stagnation of iGaming development;
- Wire Act (complete restraint on interstate betting on sports from 1961);
- forced restrictive measures towards operations of offshore distributors;
- limits imposed on allowed wagering types and betting events.
28% of entertainment industry representatives are concerned about the possible adoption of the New York tax system in other federal territories.
Connoisseur’s Conclusion
James Kilsby, an analytical specialist from VIXIO, says that the poll results indicate that industry representatives are already noticing possible threats. According to him, over 10 states introduced an extensive list of regulatory measures in 2021.
The expert clarifies that the most expensive region in terms of taxation and licence purchase is New York, where the public fee is 51%. Mr Kilsby also notes that in the Florida marketplace, one of the most ambitious states, the authority favours the Seminole tribe.
Other Review Outcomes
The casino industry cannot boast of such wide reach as sports betting. As of early 2022, such companies could operate legally in only 6 lands. However, more than half of the poll participants believe that 10+ areas will legalise this type of entertainment by 2025.
About a quarter of all respondents believe that the main reason for the low promotion of online entertainment is the likely threat of addictive gambling. Also, one of the barriers is concerns about the privatisation of land-based casino proceeds by internet venues.
The study also raised the topic of online bets advertising. More than 60% of the respondents have a negative attitude to the enhanced promotion of the wagering sphere.
The first research on the industry’s problem areas was conducted on similar dates in 2020. Back then, people mainly noted the Wire Act as one of the core threats.
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