The recent Big Game Lotto windfall that went to two winners provides for a very interesting subject of discussion. The total Big Game jackpot amounted to $363 million dollars. Nearly half of that jackpot was allocated for state and federal taxes. Just where does all that money go after it is paid to the states? Half of that Big Game jackpot was $181.5 million.
Let’s take a look at this scenario. The Big Game is offered in Georgia, Illinois, Maryland, Massachusetts, Michigan, New Jersey and Virginia. People from neighboring states flocked to participating states in order to buy their chances of hitting “the big one.” Long lines at convenience stores and gas stations were common.
The effect of gambling on the public as a whole is a highly debatable subject. Arguments can be made both ways. Large portions of the proceeds benefit the public. Proceeds are used to provide for new fire fighting equipment, books for schools, and even senior citizen programs. On the other hand, many people lose. Some of those people are addicted gamblers, others are people who risked more than they could afford in hopes of winning Togel Hari Ini“the big one.” Putting that issue aside, let’s take a look into a deeper question. Are states addicted to gaming proceeds?
Much like addicted gamblers, many states have become addicted to the lottery. The states are big winners no matter who wins the jackpot. There is no question that lottery proceeds are a significant source of funding for states. One could make a case that states have developed a dependence on lottery proceeds. Similarly, states have developed a dependence on casino gaming revenues.
States are meeting and surpassing budgets that they may not been able to meet. In the past few years, this fact has driven many states to consider land-based casino gaming within their borders. Existing lotteries and casinos are now expanding the type of games they offer. New slot machines, multi-line video poker machines, new types of table betting, and even new table games are being introduced. More recently, gaming companies and states have pondered how Internet gaming can be a viable form of revenue. Can you imagine, not having to wait in line for a lottery ticket? Just log onto the “state sponsored” lottery site and click away.
Since 1995, Internet gaming has literally exploded. Although it can never be a complete substitute for the complete land-based casino atmosphere, virtual gaming is becoming increasingly popular for many reasons. An anonymous virtual gambler said, ‘the convenience factor is a big benefit for me. I live in Midwest Pennsylvania, and the nearest casino is hours away. I also have children, which makes it difficult to get away. I can pull up a chair and play while the kids are sleeping in their own bed.” New technology and its popularity are forcing state and federal legislators to discuss Internet gaming issues. Bally Gaming and Systems has been the first and only company that has had success in developing and getting regulatory approval for its online gaming architecture, Remote Access Verification System (RAVE).
A recent news article noted that New Jersey is considering Internet gaming. Similar reports have noted that Nevada as well as Indian Reservations have already considered Internet gaming. A congressional committee will convene to debate New Jersey and its proposed Internet gaming at a hearing scheduled for later this month. Due to an insurmountable amount of questions including technology challenges, and regulatory issues, a definitive answer is still probably years away.