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Online casinos are growing in popularity but the land-based side of the gambling industry is still going strong. August 6 will see the opening of the new WarHorse Casino in Omaha, Nebraska. It’s finally been given the required support of the state’s Racing and Gaming Commission.
Just a few compliance checks are still required to be met but the official opening should go ahead as scheduled. It’s a $250 million new casino and will offer a 24/7 service. That’s important as players are now used to that at online casinos.
The WarHorse Casino is a groundbreaking one as it’s the first state-sanctioned one to open in Omaha. Commission Chairman Denny Lee has described the opening as “historic.”
There’s been a long wait for the opening of the WarHorse Casino. There’s been a temporary casino inside Horsemen’s Park since September 2022. Now the countdown is on to the opening but it’s only the first phase of the development.
It’ll start with 800 slot machines and other table games will be available to play. Next spring will see the second phase open with the number of slot machines rising to 12000.
This is part of the expansion of land-based casinos in the state but what about the online side of the gambling industry?
In 2018 a US Supreme Court Judge ruling changed the US gambling industry. It ruled that rather than the Federal Government having the final say on legalization, it can be the individual states. This has seen over 30 states make sports betting legal, particularly online. Nebraska is not one of them but in-person sports betting is legal.
New Jersey was one of the states that campaigned for this change to be made. Once the ruling was made they swiftly changed their laws on gambling. The state has always been known for its land-based casinos and they continue to be hugely successful.
Gambling tax revenue is a major reason why states desire to make betting legal. The first six months of 2024 saw New Jersey receive gambling tax revenue of $331.3 million. That’s a figure that could increase in the future if a proposed bill becomes law.
Senator John McKeon introduced a bill this year that proposed raising the tax rate for online gambling and sports betting to 30%. That would be a big hike as the current figure is 15% of gross gaming revenue for online casinos and 13% for sports betting.
That would still be well below the sports betting tax rate in New York which is 51%. Pennsylvania’s figure is also high and set at 36% of gross gaming revenue.
The online casino tax rate in New Jersey is one of the lowest in the US, that is why casino bonuses for new customers are huge here compared to Pennsylvania or Michigan. Look at bet365 online casino, for example, - new players are offered up to $1000 match on their first deposit.
It’s certainly a lot lower than the 54% that Pennsylvania has on slot games. That shows a strong awareness of the industry as slots are the most popular section. In Pennsylvania, the tax on table games is only 16%.
There is a concern in the industry that the success of online casinos may be hindered by the desire to raise increased levels of tax revenue. Ohio doubled its tax rate earlier last year going from 10% to 20%.
In July last year the Buckeye State’s governor, Mike DeWine, increased the tax rate in his 2024-25 budget, from 10% to 20%.
While New Jersey has been campaigning for online gambling to be made legal, there are still moves (as there are in other states) to ensure it is regulated.
This year has seen a bill re-introduced in New Jersey that would limit how gambling is advertised. There remains concerns over the way in which gambling can affect its players.
The gambling industry in New Jersey wasn't too happy with the results of research by the National Economic Research Associates. It had been commissioned by the Campaign for Fairer Gambling and had a surprising conclusion. It stated that the igaming market in New Jersey was “detrimental” for the economy of the state.
It’s all a bit surprising considering the huge amounts of gambling tax being received by the state. However, the study claimed that such benefits from that were “canceled out” by the increasing cost of gambling harm. Steps are taken though advising players to gamble responsibly and offering help to those who do have problems caused by their gambling.
With gambling being legalized though, those who join licensed and regulated sites are better protected. It is likely that more US states will make sports betting legal and also move to make online casinos and sports betting legal.
Just a few compliance checks are still required to be met but the official opening should go ahead as scheduled. It’s a $250 million new casino and will offer a 24/7 service. That’s important as players are now used to that at online casinos.
The WarHorse Casino is a groundbreaking one as it’s the first state-sanctioned one to open in Omaha. Commission Chairman Denny Lee has described the opening as “historic.”
There’s been a long wait for the opening of the WarHorse Casino. There’s been a temporary casino inside Horsemen’s Park since September 2022. Now the countdown is on to the opening but it’s only the first phase of the development.
It’ll start with 800 slot machines and other table games will be available to play. Next spring will see the second phase open with the number of slot machines rising to 12000.
This is part of the expansion of land-based casinos in the state but what about the online side of the gambling industry?
In 2018 a US Supreme Court Judge ruling changed the US gambling industry. It ruled that rather than the Federal Government having the final say on legalization, it can be the individual states. This has seen over 30 states make sports betting legal, particularly online. Nebraska is not one of them but in-person sports betting is legal.
New Jersey was one of the states that campaigned for this change to be made. Once the ruling was made they swiftly changed their laws on gambling. The state has always been known for its land-based casinos and they continue to be hugely successful.
Gambling tax revenue is a major reason why states desire to make betting legal. The first six months of 2024 saw New Jersey receive gambling tax revenue of $331.3 million. That’s a figure that could increase in the future if a proposed bill becomes law.
Senator John McKeon introduced a bill this year that proposed raising the tax rate for online gambling and sports betting to 30%. That would be a big hike as the current figure is 15% of gross gaming revenue for online casinos and 13% for sports betting.
That would still be well below the sports betting tax rate in New York which is 51%. Pennsylvania’s figure is also high and set at 36% of gross gaming revenue.
The online casino tax rate in New Jersey is one of the lowest in the US, that is why casino bonuses for new customers are huge here compared to Pennsylvania or Michigan. Look at bet365 online casino, for example, - new players are offered up to $1000 match on their first deposit.
It’s certainly a lot lower than the 54% that Pennsylvania has on slot games. That shows a strong awareness of the industry as slots are the most popular section. In Pennsylvania, the tax on table games is only 16%.
There is a concern in the industry that the success of online casinos may be hindered by the desire to raise increased levels of tax revenue. Ohio doubled its tax rate earlier last year going from 10% to 20%.
In July last year the Buckeye State’s governor, Mike DeWine, increased the tax rate in his 2024-25 budget, from 10% to 20%.
While New Jersey has been campaigning for online gambling to be made legal, there are still moves (as there are in other states) to ensure it is regulated.
This year has seen a bill re-introduced in New Jersey that would limit how gambling is advertised. There remains concerns over the way in which gambling can affect its players.
The gambling industry in New Jersey wasn't too happy with the results of research by the National Economic Research Associates. It had been commissioned by the Campaign for Fairer Gambling and had a surprising conclusion. It stated that the igaming market in New Jersey was “detrimental” for the economy of the state.
It’s all a bit surprising considering the huge amounts of gambling tax being received by the state. However, the study claimed that such benefits from that were “canceled out” by the increasing cost of gambling harm. Steps are taken though advising players to gamble responsibly and offering help to those who do have problems caused by their gambling.
With gambling being legalized though, those who join licensed and regulated sites are better protected. It is likely that more US states will make sports betting legal and also move to make online casinos and sports betting legal.