The chief product officer for Evolution Gaming, Todd Haushalter commented on the taxation framework across the US in relation to the growing igaming market.
According to the CPO, there is a need for regulators and gaming authorities to implement fair taxes on the industry. The intention, he said was that these levels did not become prohibitive and would therefore allow the market to reach its maximum potential.
A fair taxation level, said Haushalter, would allow operators and suppliers to innovate and create more igaming products, ultimately benefitting the players.
He compared Nevada’s tax rates of 6.75% of gross gaming revenue to New York’s exorbitant tax rate of 51% placed on its sports betting market.
“’Feverish’ or ‘frenzy’ are the first words that come to mind when it comes to describing the market as things stand,” Haushalter said. “The excitement around the business is incredibly high and it reminds me of the early days of the .com boom.”
“Everyone knows that online gaming will be massive in America, since this is the world’s largest gaming market already. As a result of this, we are seeing many companies investing heavily today to secure their place in the future of online gaming.”
Haushalter called for low gaming taxes so that the market could flourish across the US, and not only in very specific states.