States are cashing in on Americans’ love of gambling. States like Nevada and New Jersey, for example, are tapping into the billions of dollars spent on wagering online, while Wyoming is catching up by legalizing a lottery.
The 43 states where lotteries were legal last year made more than $19 billion in profits. State and local governments reaped an additional $8 billion in taxes from commercial and racetrack casinos. And while the online gambling market is hard to estimate, potential revenue for states is in the billions of dollars.
Republican Gov. Brian Sandoval hailed his state’s new Internet gambling law as “the framework that will usher in the next frontier of gaming in Nevada.”
Source: Stateline.org. Read full article. (link)