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Sports Betting Legalization Landscape Jackson Brainerd NCSL Fiscal Analysts Seminar

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Sports Betting Legalization LandscapeJackson Brainerd

NCSL Fiscal Analysts Seminar

Murphy v. NCAA: Sports Betting Moves Forward

Page 3: Jackson Brainerd NCSL Fiscal Analysts Seminar · betting revenues, 14.25 percent of racetrack run online sports betting revenues. Nevada 6.75 percent of gross revenue of licensee

Grandfathered by PASPA,

Not Offering Sports Betting

Offering Sports Betting

2018 Legislation Pending

2018 Legislation Failed

2018 Legislation Enacted

Page 4: Jackson Brainerd NCSL Fiscal Analysts Seminar · betting revenues, 14.25 percent of racetrack run online sports betting revenues. Nevada 6.75 percent of gross revenue of licensee

Policy Concerns

Regulatory Authority

Authorized Operators and Platforms

Administrative Costs

Betting-Eligible Events

Age Limits

Tribal-State Compacts

Gambling Addiction

Online/Mobile Betting

Integrity Fees

Tax Rates

Revenue Impact

Revenue Use

Page 5: Jackson Brainerd NCSL Fiscal Analysts Seminar · betting revenues, 14.25 percent of racetrack run online sports betting revenues. Nevada 6.75 percent of gross revenue of licensee

College Sports?

Yes: Delaware, Mississippi, Nevada, Pennsylvania, West Virginia

Yes, but only on out-of-state colleges/events: New Jersey, Rhode Island

No: New York

Page 6: Jackson Brainerd NCSL Fiscal Analysts Seminar · betting revenues, 14.25 percent of racetrack run online sports betting revenues. Nevada 6.75 percent of gross revenue of licensee

Tribal Gaming Industry Concerns

Tribal Gaming (28)

Page 7: Jackson Brainerd NCSL Fiscal Analysts Seminar · betting revenues, 14.25 percent of racetrack run online sports betting revenues. Nevada 6.75 percent of gross revenue of licensee

Mobile Betting and Kids These Days…

Page 8: Jackson Brainerd NCSL Fiscal Analysts Seminar · betting revenues, 14.25 percent of racetrack run online sports betting revenues. Nevada 6.75 percent of gross revenue of licensee

Integrity Fees

NFL

NBA

MLB

NHL

Page 9: Jackson Brainerd NCSL Fiscal Analysts Seminar · betting revenues, 14.25 percent of racetrack run online sports betting revenues. Nevada 6.75 percent of gross revenue of licensee

How Sportsbooks Make Money

$100

+$10 (vig)

$110

$100

+$10 (vig)

$110

$220 $210 to winner$10 profit

Page 10: Jackson Brainerd NCSL Fiscal Analysts Seminar · betting revenues, 14.25 percent of racetrack run online sports betting revenues. Nevada 6.75 percent of gross revenue of licensee

Tax Rates

State Tax Rates

Delaware State receives 50 percent of total win

Mississippi 12 percent gaming tax (8% state/4% local)

New Jersey 8.5 percent of gross sports pool revenues, 14.25 percent of casino-run online sports

betting revenues, 14.25 percent of racetrack run online sports betting revenues.

Nevada 6.75 percent of gross revenue of licensee

Pennsylvania 34 percent tax with a 2 percent local assessment

Rhode Island 51 percent of sports wagering revenue

West Virginia 10 percent of licensee’s adjusted gross sports wagering receipts

Page 11: Jackson Brainerd NCSL Fiscal Analysts Seminar · betting revenues, 14.25 percent of racetrack run online sports betting revenues. Nevada 6.75 percent of gross revenue of licensee

Cannibalization Illustrated

$1,000,000

$2,000,000

$3,000,000

$4,000,000

$5,000,000

$6,000,000

Casino Revenue for Selective Neighboring States

(In thousands)

New Jersey

Pennsylvania

Indiana

Ohio

Source: UNLV Center for Gaming Research

Page 12: Jackson Brainerd NCSL Fiscal Analysts Seminar · betting revenues, 14.25 percent of racetrack run online sports betting revenues. Nevada 6.75 percent of gross revenue of licensee

Nevada Sports Betting Revenue

Total Gaming

Sports Betting

2017 Gaming Revenues After Paying Winners

Gaming Revenues After Paying Winners

$11,571,114,000

$248,777,000

Source: UNLV Center for Gaming Research

Page 13: Jackson Brainerd NCSL Fiscal Analysts Seminar · betting revenues, 14.25 percent of racetrack run online sports betting revenues. Nevada 6.75 percent of gross revenue of licensee

Sports Betting Contributions to State Funds

State Dedication of Proceeds

Delaware General Fund

Mississippi Casino gaming tax revenue is allocated to the General Fund, with $3 million distributed to a

separate state highway construction fund monthly

New Jersey Casino Revenue Fund, General Fund, Atlantic City Marketing/Promotion

Nevada Gaming revenue goes to gaming funds in state aid education, local government, the state

General Fund, and problem gambling

Pennsylvania General Fund

Rhode Island General Fund

West Virginia First $15 million to the Lottery Fund, additional revenue directed to the Public Employees

Insurance Agency Financial Stability Fund

*Proposed Legislation

Page 14: Jackson Brainerd NCSL Fiscal Analysts Seminar · betting revenues, 14.25 percent of racetrack run online sports betting revenues. Nevada 6.75 percent of gross revenue of licensee

Gambling Addiction Services/Awareness

Page 15: Jackson Brainerd NCSL Fiscal Analysts Seminar · betting revenues, 14.25 percent of racetrack run online sports betting revenues. Nevada 6.75 percent of gross revenue of licensee

Federal Preemption?

Page 16: Jackson Brainerd NCSL Fiscal Analysts Seminar · betting revenues, 14.25 percent of racetrack run online sports betting revenues. Nevada 6.75 percent of gross revenue of licensee

Contact Information

[email protected]

303-856-1346

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