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Taxation, Technology and Online Sports Betting Revolution in the USA

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The world of gambling in the United States is an ever-evolving landscape where millions of American adults seek their fortunes yearly. Beyond the thrill of winning, a complex web of regulations, taxation and technological advancements shapes the gambling experience.

Taxation of Gambling Winnings in the USA

Gambling in the United States is not just about luck; tax implications are involved. The U.S. Internal Revenue Service (IRS) ensures it gets a slice of your gambling success. If you strike it big, the payer will withhold 24% of your winnings before handing them to you. This withholding is mandatory for certain winnings and is reported to the IRS with Form W-G2, which records the transaction.

But here’s a glimmer of hope for gamblers – you can deduct gambling losses from your taxes if you itemize your deductions. However, there’s a catch: you can only deduct losses up to the total amount of your reported winnings and you must provide official documents to support your claims.

It’s worth noting that not all gambling winnings are treated equally. Slot machines and bingo, categorized as games of chance, are subject to the 24% withholding tax. In contrast, table games like blackjack and craps, considered skill-based games, do not have immediate tax withholding. Nevertheless, players are still obligated to report their earnings when filing taxes.

Adding another layer to the taxation puzzle, some states require you to declare your gambling winnings. Most states tax all income generated within their borders, making it essential for winners to adhere to state-specific regulations.

The Rise of Gambling Technology in 2023

The taxation of gambling winnings at the top online casinos in the USA sets the financial backdrop for the evolving gambling landscape. As players navigate the complexities of IRS regulations and state-specific requirements, the rise of gambling technology in 2023 ushers in a new era of immersive and secure gaming experiences.

In recent years, technology has been a game-changer in the gambling industry, transforming how people engage with games of chance. Here are some of the key technological advancements reshaping the gambling landscape:

  • Virtual Reality (V.R.) and Augmented Reality (A.R.): These technologies bridge the gap between physical and online gambling experiences. V.R. offers immersive gameplay, enabling players to interact with the casino environment. You can now spin slot wheels, toss chips in blackjack and even see fellow players at the poker table, all from the comfort of your home.
  • Live Dealer Casinos: Live dealer casinos elevate the online gambling experience by providing real-time interactions with professional dealers. This innovation adds authenticity and engagement, making players feel at a physical casino, all from the comfort of their homes.
  • Facial Recognition and Protection: Facial recognition technology is entering the gambling industry, simplifying identity verification and enhancing security. From logging in to confirming deposits, facial recognition streamlines processes without compromising safety.
  • Predictive Data Modeling: Predictive analytics is becoming increasingly sophisticated in gambling. Casinos now use data to understand players’ preferences, tailor experiences and optimize efficiency, resulting in more personalized and efficient services.
  • No Wagering Casinos: No-wagering casinos are on the rise, allowing players to experience the latest gambling technology without the risk of losing their initial deposits. These casinos focus on gaining player loyalty rather than just an initial financial transaction.

Online Sports Betting in Kentucky

In the gambling landscape of the USA, a significant development has occurred in Kentucky. As of September 28, 2022, online sportsbooks can legally accept bets in the state, opening up a new frontier for gambling enthusiasts.

Five licensed online sportsbooks have already started accepting registrations in Kentucky, with three more licensees preparing to launch soon. This provides Kentucky residents with eight options for online sports betting. To participate, individuals must register with their chosen sportsbooks, a simple process that involves identity verification. The minimum age for sports betting in Kentucky is 18, although some sportsbooks may set a higher age requirement.

Looking Ahead

The future of gambling in the United States holds exciting possibilities. With technology continuing to shape the industry and more states considering legalizing various forms of gambling, the landscape is evolving rapidly.

Whether you’re a seasoned gambler or just someone intrigued by the industry’s developments, it’s an exciting time to keep an eye on what’s next in American gambling. Stay tuned for further updates on this ever-changing landscape.

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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The Duo Returns: s1mple and electronic Reunite at BC.GAME Esports to Chase CS2 Glory

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s1mple and electronic are back on the same team.

After years apart, the legendary duo is reunited—this time under the banner of BC.GAME Esports.

BC.GAME Esports has officially signed Denis “electronic” Sharipov. The 2021 CS Major champion and multiple-time HLTV Top player will now play alongside Oleksandr “s1mple” Kostyliev, who joined the organization earlier. Together, they form the core firepower duo of BC.GAME Esports’ CS2 roster.

“I am glad to announce that I am joining the BCGame Esports team. I am very happy to play together with S1mple again. Incredibly hungry and motivated to work like never before!”

The two previously spent six years together at Natus Vincere (NaVi), winning top-tier titles such as the PGL Major 2021, BLAST Premier Global Final, and IEM Cologne. Their synergy and clutch consistency earned them a place among the most iconic duos in Counter-Strike history.

In this new environment, electronic will not only serve as a key rifler but also contribute to the team’s broader content strategy—participating in match breakdowns, behind-the-scenes content, livestreams, and regional fan events.

According to BC.GAME Esports, another high-profile player signing is currently in the works, aiming to further strengthen the team’s competitive lineup.

BC.GAME Esports is the esports division of the global iGaming brand. As a platform operating in regulated markets, BC.GAME views esports as a long-term investment and an extension of its entertainment ecosystem. The organization sees its esports initiative as a bridge to connect with a younger, more engaged global audience.

Compared to traditional sports, esports content is more digitally native and easier to distribute across livestreams, short-form platforms, and bilingual formats. It also offers more flexibility and accessibility in reaching global players, creators, and fans. Unlike sports ecosystems built around rigid media rights, esports allows brands to take a more active role in content creation and community development.

About BC.GAME Esports

BC.GAME Esports is the competitive gaming arm of BC.GAME, a crypto-native entertainment platform. Launched in 2024, the team merges top-tier CS2 competition with blockchain-powered community engagement and digital content creation.

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Pr manager

Olivia Dixon

BC.GAME

[email protected]

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THE UAE LOTTERY CONFIRMS FIRST AED 100 MILLION GRAND PRIZE WINNER

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It’s official, The UAE Lottery’s first AED 100 Million Grand Prize has been won, and verification is now underway!

The UAE Lottery is delighted to confirm this historic milestone for our winner, our organization, and the UAE’s entertainment and gaming landscape.

As part of our standard operating procedures, we are conducting due diligence to ensure that all internal checks, security protocols, and General Commercial Gaming Regulatory Authority compliance requirements are fulfilled before further details on our winner are shared and the prize is awarded.

Responsible gaming, player safety, and operational transparency remain at the heart of everything we do. Safeguarding the integrity of our draws and maintaining the trust of all players continue to be our highest priorities.

We will share more details about the lucky winner once all verification steps have been finalized.

The post THE UAE LOTTERY CONFIRMS FIRST AED 100 MILLION GRAND PRIZE WINNER appeared first on European Gaming Industry News.

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ELA Games’ Buffalo Force Charges to Outstanding Results: 62% GGR Growth in Just 3 Weeks

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Stunning visuals and strong performance make Buffalo Force a standout success

ELA Games’ Buffalo Force has quickly risen to the top of performance charts, just three weeks after its release, showing strong player engagement metrics and turnover growth.

The Wild West-themed brand-new title blends visually rich artwork, dynamic gameplay, and immersive atmospheres to create engaging experiences for players and value for operators. The game showcases ELA Games’ rapid rise to become a leading game development studio, capable of pushing the boundaries of the gaming industry with its innovative solutions.

Inside the Data: How ELA’s Buffalo Force Instantly Soared

This month, Buffalo Force exceeded all plans and surpassed expectations across key performance metrics. The audience immediately embraced the product, with operators reporting positive responses from player bases. With the game’s momentum still building, even stronger results may be on the horizon.

Growth metrics during the first 3 weeks after release highlight Buffalo Force as one of the studio’s strongest titles to date. It showcases the game’s powerful retention appeal and the ability to deliver games that perform consistently across regions, captivating new audiences:

  • Actives growth +26%
  • Turnover +38%
  • GGR total growth +62%
  • Rounds count +29%

These results reflect a rise in overall player activity, indicating higher session frequency and more wagers placed. This shows that Buffalo Force has high replay value and is a game that encourages engagement.

[Video https://youtu.be/pBHPyi2vHlY]

Marharyta Yerina, ELA Games’ Managing Director, commented, “Buffalo Force represents the progress our studio has made in understanding what players love and what operators need. What we see with the game’s instant success is a sign that our approach is working and that each new release will set the bar higher in terms of engagement, performance, and enjoyment.”

ELA Games’ Portfolio Continues to Expand

Buffalo Force’s success reflects ELA Games’ development approach, where each release enriches the studio’s portfolio, adding creative innovation, visually rich design, and operator value. Other recent additions, such as Shoot Happens or Rabbit Winpot Deluxe, reinforce this trend, creating a balanced catalogue with plenty of variety.

Joker Winpot is another standout title for ELA Games that has received widespread acclaim. It received key nominations by various institutions for its creativity and innovation, underscoring how ELA Games’ developments are recognised by peers and press alike. Buffalo Force positions itself as a key game for the studio that will contend for similar commercial success and industry recognition.

The post ELA Games’ Buffalo Force Charges to Outstanding Results: 62% GGR Growth in Just 3 Weeks appeared first on European Gaming Industry News.

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