iGaming Brings Significant Economic Benefits To States, According To New Peer-Reviewed Study Sponsored By iDEA

WASHINGTONJune 20, 2017  /PRNewswire/ -- The legal online gaming industry is generating tax revenue, adding jobs, and spurring technological innovation, with little of the negative impact once anticipated by opponents, according to a recently released report that examines the effects of interactive gaming in  New Jersey.

In their paper: " Economic Impact of New Jersey Online Gaming: Lessons Learned," researchers Alan Meister, Ph.D., of Nathan Associates, and  Gene Johnson, of Victor Strategies, analyzed financial and sociological data accumulated since  New Jersey legalized online gambling in 2013.

$998.3 million in revenue.

3,374 jobs.

$218.9 million in wages to employees.

$124.4 million in tax revenue to state and local governments (including $83.5 million in iGaming taxes). The research suggests that those benefits could be replicated in other regions.

" New Jersey's experience provides valuable lessons for other U.S. states considering iGaming legalization," said  Jeff Ifrah, a leading gaming attorney and one of iDEA's founding members. "The state's operating environment and regulatory structure provides a portable model which can be implemented by other jurisdictions, bringing much-needed jobs and tax revenue."

The study finds that concerns raised during the initial debates have been unfounded. There has not been a single major incident of online cheating or player fraud reported and incidents of cybercrime have been extremely rare.

"New Jersey iGaming is also a success from a regulatory perspective, with some of the strictest iGaming regulation protocols in the world," Ifrah said. "These regulations guarantee that operators are accountable, and that players can trust that they will be protected."

DelawareNevadaNew Jersey, and the U.S. Virgin Islands, offer legal online casino gambling.  CaliforniaIllinoisMassachusettsMississippiNew YorkPennsylvania, and  Washington are among those considering legislation that would legalize online gaming.

For more information on the regulated online gaming industry and the new study, visit iDEAGrowth.org.

iDEA (I-Development and Economic Association) is an association seeking to grow jobs and expand online interactive entertainment business in  the United States through advocacy and education.

Moriah Batza
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