Kansas projects poor revenues from sports gambling

According to a report by the Pew Charitable Trusts, sports gambling would only boost revenue for Kansas during a short period of time.

US.- Sports betting legalisation is now on the table for every state in the US but, according to a report by the Pew Charitable Trusts, it wouldn’t be as profitable in Kansas as in other areas. The foundation conducted a study which revealed that sports wagering won’t be the “magic pill” to cure state budget issues as it may cannibalise other segments in the gambling industry.

“States could experience short-lived gains followed by downward pressure on revenue as more and more states legalise,” Mary Murphy (one of the authors of the study) said. She further explained that tax collections may not be new revenue but just money cannibalised from casino-related taxes.

“The legalization of sports betting will help diminish illegal gambling operations and allow states to bring their regulations into the 21st century,” Republican Senate President Susan Wagle said after the Supreme Court struck PASPA down and assured: “I am confident the Kansas Legislature will act appropriately to regulate sports betting next year.”

However, according to the study by Pew Charitable Trust and Ms Murhpy, “the revenue streams will likely be small.”