10 percent? Less than that.
Figure the house/casino edge is about 10%, and then the government only receives a portion of that 10%. All things considered, the tax revenue from sports gambling is chump change.
But in general, yes --- as sports gambling is legalized, it's probably "stealing" some revenue from the State lotteries.
So that's one reason why Virginia will be slow to legalize. On top of Virginia being a very conservative, professional, and family-values state. Figure Virginia will be 48th or 49th to legalize, and then Utah as 50th.
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In response to this post by dolph)
Posted: 06/12/2019 at 11:17AM