Texas lawmakers are on the verge of a historic decision, at least for the gambling entertainment business. The latest research from the state’s financial analysts has proven it: legalizing the betting business could be a gold mine for the Lone Star State’s coffers.
A fresh report from analysts Eilers & Krejcik Gaming has blown up the news space and caused a lot of controversy in the government. What would happen if bookmakers were legalized? The figures are impressive: 8,000 new jobs and 360 million dollars in direct tax revenues. And that’s just the tip of the iceberg—the total economic impact could reach an astronomical $2.6 billion.
“The money is slipping through our fingers,” said Rick Perry, former governor of the state and now the voice of the Sports Betting Alliance, figuratively. He estimates that the shady betting market in Texas spins about $8.7 billion. Locals bet at underground bookmakers, play on offshore sites, or travel to neighbouring Louisiana. As a result, the budget is missing about 250 million dollars annually.
And all this time, the state government has kept such a valuable business not legalized, not by necessity. According to the federal laws of the United States, the issue of legalizing gambling lies entirely on the shoulders of the leadership of each individual state. At the same time, gambling is popular in almost all states. But most fans of such entertainment prefer to play over the Internet. After all, not everyone has the money and time to visit Las Vegas or Atlantic City.
In the case of iGaming, you can satisfy your passion for gambling entertainment without leaving home. Online casinos today have the most incredible variety of gambling entertainment for every taste. Among them, real hits compete in popularity with video games. According to statistics, Plinko is a game that lasts for several months. Online casino review sites evidence this. The largest of them are plinkogames.in. It shows the presence of Plinko in the most popular online casinos. And this attracts thousands of new players to gambling sites and apps, including those from Texas.
Of course, this prevalence of gaming can be the reason for the rise of gambling addiction. Some experts consider it a big problem. And it is not only about gambling but also about video games. Experts urge people to learn how to recognize the signs of such addiction and not to procrastinate with help.
Many allow casinos because of the economic benefits. In contrast, some, primarily Southern states like Texas, estimate the moral and psychological damage from casinos is too high to allow them to operate freely.
Why is casino legalization so beneficial to Texas? It’s simple – there is no income tax here. Every new source of revenue is worth its weight in gold. A LendingTree study confirms that states where betting is legal collected $2.5 billion in taxes last year. And that’s without the participation of the two giants in taxation – California and Texas!