Evolution’s Chief Product Officer Todd Haushalter has called on US regulators to implement fair taxes on the gambling industry to allow the industry to reach its full potential.
Hauushalter said the US could become the world’s top igaming market, but only if regulators ensure that taxation levels don’t become prohibitive.
For Evolution’s director, this would help free up providers to innovate and serve players with a wider range of igaming products, including online casino and online sports betting.
Haushalter added that states have the ability to set more “sensible” tax rates. He highlighted how Nevada’s tax rate on land-based casinos is set at 6.75% of gross gaming revenue (GGR), helping to establish the state as one of the top markets in the country, while in New York, sports betting is taxed at a rate of 51% of the GGR.
“‘Febrile’ or ‘frenzy’ are the first words that come to mind when it comes to describing the market as things are. The excitement around the business is incredibly high and it reminds me of the early days of the .com boom. ”, said Hausalter
“Everyone knows that online gaming is going to be massive in the United States, as this is already the biggest gaming market in the world. As a result of this, we are seeing many companies investing heavily today to secure their place in the future of the industry,” he added.
For Evolution’s Director, Nevada and New Jersey Have Affordable Tax Rates
Todd Haushalter added: “What is needed now is the same thing that made the big land markets flourish – low gaming taxes and a big supply. Nevada and New Jersey have the lowest gambling tax rates in the United States and, inevitably, have invested the most. They also offer everything a tourist could ask for.”
“In online gambling, this means offering a full range of sports betting, all types of slot machines, skill-based games, table games and of course live casino with its innovative gaming shows.”
