Possible tax revenues upon legalization of online poker in Florida
November 17, 2009, 11:54 am (8 years ago)
A report requested by the state of Florida at the beginning of this year has been introduced to state officials. This report indicates the possibility of tax revenue up to $90 million that could have been generated each year by legalizing online poker.
For the preparation for debate scheduled on December 1st, the independent company American Poker Ventures brought its report to the Florida Office of Program Policy Analysis and Government Accountability last week. The research of APV was conducted with the help of UK gambling consultancy H2, which unveiled that its tax estimations were calculated according to total gross online poker rake of $226 million in the initial year of legalization, $331 million in second year and $457 million in third year, from which the state government could expect a 20 percent cut. The outlook of this kind of income is going to be tempting to a state badly putting its effort into balance its budget in difficult time.
The report indicates a single-center system that would be operated by a private operative under agreement with the state government following a certain process. Half the poker gross rake produced within state borders would be divided amongst the card rooms and groups with gaming compacts approached as licensees, with 30 % going to the systems operator, and the rest of 20 % going to the state.