BIRMINGHAM, Ala. (WBRC) – Hundreds of millions of dollars are at stake in this year's NCAA March Madness Tournament, but none of it is at stake here in Alabama. At least not legally.
Illegal gaming costs state governments more than $13 billion in lost tax revenue annually, according to a report by the American Gaming Association.
This led WBRC to wonder how much money is being wagered on this tournament in other states, and how much tax revenue the states are missing out on.
WBRC accessed game records in both Mississippi and Louisiana to determine how much revenue sportsbooks earned and how much taxable revenue each state raised.
In Louisiana, sportsbooks generated $148 million in revenue from July 2022 to March 2023. This resulted in $27 million in taxes paid.
Mississippi State compared February and March revenue to see just how much growth the March Madness tournament generated.
In February 2023, Mississippi sportsbooks were responsible for $3.1 million in state tax revenue. In March, that amount increased to nearly $5 million for him, and March Madness played a big role in that growth.
At one point, a gaming bill proposed in the Alabama House of Representatives included casinos and sportsbooks, but the bill underwent significant changes in the Senate.
This is a fact that has irritated some lawmakers. Rep. Juandalyn Givan said her constituents ask her about the game every year.
“One of the themes that I have to address is, are we going to have a lottery, are we going to have a casino, are we going to be able to have sports betting? Here in Alabama, we're way behind the times. I'm just nervous about when we'll catch up.”
The gaming bill is expected to return in early April.
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