Nevada Looks To Tax Operators On Winnings From Internet Poker TournamentsLegislation Introduced Which Will Give State A Cut Of Those Profits |
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Poker has long been considered an amenity for Nevada casinos, a game not capable of generating massive revenue like slot machines or some other table games. However, with the future of web poker based out of the state, the game could soon be a real money-maker.
Nevada casinos did take in $123,253,000 from cash game poker in 2012, but that figure represents just a sliver of overall gaming of $10.86 billion.
According to Nevada law, live tournaments are exempt from a state tax because the money from them is not considered part of gross gaming revenue. Going forward, online tournaments, which cost far less to run, could be included under taxable revenue.
A bill introduced Tuesday would allow the state to collect a percentage of profits derived from hosting the games. A separate bill aims to give Nevada the ability to enter into state partnerships in order to create larger player pools for tournaments.
The Silver State, which legalized Internet gaming in 2011, could see its first real-money online poker sites take action from customers during the first half of this year.
According to the Associated Press, A.G. Burnett, Nevada Gaming Control Board Chairman and the person who presented the bill, said that the new tax doesn’t affect player winnings.
Nevada’s gaming tax is 6.75 percent.
For news, updates and daily tournament information, check out the Nevada landing page.
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