Online Casino Horse Racing Taxes
Horse racing is a source of taxes for the states and governments across the United States. So are online casino video games. Last week, as the Montana horse racing business has been slowing down and facing trouble, the fans of the sport asked for a portion of the state’s tax revenues from other online casino gambling sectors to help it out. Besides some success on Indian reservations across the state, Montana’s horse racing heritage is facing dire times. Only few horse racing events were scheduled for the year, with the season about to begin soon.
The support of horse racing is widespread across Montana. Men support it, saying things like “There’s something about the outside of a horse that does something to the inside of a man,” as the president of the Montana Race Horse Breeders Association said, and women, like a representative from Lodge Grass said, “We need to support that horse industry here in Montana.” While they are trying to promote a bill tat will have 0.75% of the state’s video gambling tax revenues go to horse racing, so is surely some hope that the online casino video games do the same.
Sure, this will require regulating the online casino industry and organizing it in a way that will be profitable to the entire sports and entertainment world via means of taxes. This in fact can turn out to be an argument in favor of online casino gambling, as people that may be less fond of the online casino world see the benefit it may bring to the entire gambling and horse racing industries. Montana is a huge video gambling business, with over a billion dollars wagered in 2006 on video gambling. Evening out and sharing tax revenues with the horse racing business may prove a fine example for the cross between gambling industries and give hope for an optimistic future of coexistence.