Online casino expansion is a good bet for North Carolina

 

2023 is the year of the game in North Carolina and it's no wonder.

As lawmakers consider a variety of gambling options, including land-based casinos, I encouraged my colleagues to look to the industry's future:

iGaming.

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In recent years, more and more states have allowed iGaming, allowing eligible adults to enjoy the same online games they can now play in casinos, including poker and slot machines.

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iGaming is the next evolution in digital entertainment and works in tandem with online sports betting to deliver an immersive and interactive gaming experience.

Enabling iGaming will allow North Carolina to maximize current and future tax revenue, regulate and ensure the thriving illicit market, and complement traditional land-based casinos.

My fellow lawmakers continue to debate what expanding gambling should look like, but limiting that discussion to traditional casinos is like building a new movie theater without permitting.

people stream movies on their mobile devices.

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As Steve Ruddock, editor of the Journal of the Law of the Game, wrote last month: “Modernizing games must be one of the pillars of legalization because it protects industry and state revenue.

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Industry experts predict that the entire online game will bring the state close to $300 million annually, creating a reliable new revenue stream that expands the tax base and aligns with fiscal policy.

intelligence that the General Assembly has endeavored to maintain.

Additionally, the state will receive tax revenue from iGaming almost immediately, rather than having to wait several years for actual casinos to open.

Besides the advantage of "flipping the lever", the online sports betting model applied in 2023 also has many things in common with iGaming.

This means that proper consumer protections as well as trusted suppliers who have undergone rigorous licensing processes in states across the country are in place.

In addition, tax dollars from iGaming can be used to expand responsible gaming programs established by online sports betting laws.

As legislators, each of us is sworn to work to protect our fellow citizens.

Eliminating the thriving black market and providing consumers with a safe and well-regulated way to enjoy it is obvious.

Anyone with a smartphone – of any age – can visit the foreign site and bet on digital table games like poker or blackjack, digital slots, and more.

These foreign suppliers are completely unregulated.

Their business is free and scams and identity theft are all too common.

The American Gambling Association estimates that North Carolina spends $430 million a year on illegal online gambling.

Enabling full iGaming will effectively eliminate this illicit market, as customers will turn to legal, secure and well-regulated domestic options.

Naturally, some might argue that online casino gaming reduces the market share of land-based casinos.

But repeated analysis and data from other states suggest iGaming complements, rather than cannibalizes, land-based casinos.

For what?

Because real casinos and iGaming attract different audiences and the crossover effect creates a certain symbiosis.

For example, the Indiana Gaming Commission conducted a study last year to analyze revenue data from six states with both full-service iGaming and land-based casinos.

The study authors concluded:

“[We] do not expect iGaming to have a negative impact on casino revenue in Indiana.

Adding iGaming without a live dealer game should not have a significant impact on live casino employment – ​​but it will create more jobs in iGaming's operations.

It is clear that now is the time for a generational change in government policy, but we need to hold all the cards as we go all out to expand the game, not roll the dice to choose a winner.

and losers.

Republic