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Standardized regulations for upcoming markets are being pushed by lawmakers from jurisdictions where iGaming is currently permitted. According to an Associated Press article, the purpose of these suggested measures is to support states that are thinking about legalizing and regulating internet gaming.
A tax rate between 15% and 25% and a ban on credit card deposits are two of the recommended criteria. The framework, which is based on New Jersey’s successful iGaming system, is intended to give legislators in other states a clear starting point.
The National Council of Legislators from Gaming States spearheaded this initiative to streamline the legislative process. According to the AP, the goal is to “give them a framework around which to build their own legislation while incorporating things that have been working well in other states.”
Council President Shaun Fluharty emphasized the need for guidance, stating, “Many states have been discussing this, but were having a hard time getting it across the finish line. We’re trying to put together some best practices for them.”
Online gaming is currently legal in seven states, including Pennsylvania, New Jersey, and Nevada. However, some states limit access to specific activities, such as online poker.
On the other hand, since the Supreme Court struck down PASPA almost seven years ago, legal sports betting has gained popularity quickly. Sports betting is currently legal in 38 states and the District of Columbia.
The industry for iGaming has not grown as much in spite of these advancements. In a few of states, the controversy surrounding internet gambling is still impeding its expansion.
Next week, the National Council of Legislators will hold its winter meeting in New Orleans, where they will continue to review the proposed criteria.