Video Poker Taxes Helps Draw Visitors
Casinos, also called virtual casinos or online casinos, are internet versions of traditional brick-and-mortar casinos. Online casinos allow gamblers around the world to play video poker games and other casino games via the Internet. In some cases, online casinos have replaced traditional casino venues. In others, the internet has become an extension of the actual venue. It’s a popular form of internet gambling.
Before opening an online casino, the casino company must abide by a number of laws and regulations designed to protect patrons from fraud and gaming abuse. An example of such regulation is the U.S. House of Representatives bill proposing the establishment of a Video Poker Tax. Such a tax could potentially apply to all states where video slot machines are located.
The purpose of a Video Poker Tax is to raise the amount of taxes that can be generated from the machine. Since live gambling takes place on casino floors, it only makes sense to reduce the risk of loss by making the machines more difficult to access for gamblers. This doesn’t mean that all slot machines will necessarily be disabled. But if the minimum age requirement is increased to twenty-one years old or more, the odds of a robber getting away with a machine containing live gambling may be increased.
A Video Poker Tax would likely apply to both live and online casinos in order to raise funds for construction and upkeep of the gambling house. This will likely increase occupancy fees at these establishments. However, since most card games are based on luck rather than skill, the increased fee per person also means reduced income to the casino’s bottom line. Such a change in revenue is bound to reduce profits, reducing profits for the gambling house overall.
This means that any money made from the taxes will go directly into the hands of the casino owners themselves, thereby decreasing the house edge which directly effects the casino’s profit margin. The casino floor is the lifeblood of any casino business, as most gamblers come to the establishment to have a good time and to be entertained. Any disruptions in the gaming process, due to circumstances beyond the control of the players, will undoubtedly cause patrons to leave. Casinos need patrons!
Many politicians, public policy experts, and think tanks have taken up the issue of increasing taxes to help draw more people to local casinos. While this is a very good idea, the tax increases that result from such measures will inevitably harm the recreational side of the casino business. In short, these additional funds are meant to help with the repair of broken slot machines, not to generate more gambling income for the owners and developers of the property. By encouraging tourists to spend their hard-earned money at the casino instead of at the local community entertainment venues, the taxes generated by a Video Poker Tax will help repair the real, physical casino infrastructure.