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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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Bety Casino Launches New Premium Platform with Trusted Licensing, Instant Crypto Withdrawals, and Elite Gaming

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Bety Casino, owned and operated by Platinum Technology NV, officially launches its new crypto gambling platform Bety.com. It is offering players 10,000+ titles, several unique in-house games, and instant withdrawals via cryptocurrencies. The platform also operates under the license and regulation of the Curacao Gaming Control Board (GCB) to ensure players globally enjoy gambling in a secure and fair environment.

The majority of the game titles provided by Bety Casino are sourced from leading suppliers like Pragmatic Play, BGaming, Red Tiger, and Microgaming. With so much focus on responsible gaming, security, player entertainment, and satisfaction, Bety aims to redefine the online crypto gaming industry.

‘’Our vision for Bety Casino was basically to develop a crypto casino where every gamer or bettor feels safe, entertained, and fully in control of their funds.’’. Said a Bety chief executive Durrant Nagra. ‘’Our partnership with reliable software providers is really an assurance of an elite gaming experience. With over 10,000+ titles in our library that include online slots, table games, live dealers, and in-house games, every gamer will enjoy our selection.

‘’At Bety, we believe in creating a safe and enjoyable environment for all our players. We highly promote responsible gaming practices by offering features and/or tools that will help our gamers stay in control. Some of our responsible gambling resources include self-exclusion and setting deposit limits. Besides, our support team is well-trained to assist any player who might need help managing their gaming habits.’’ He added.

Both casual and high rollers can potentially enjoy one of the most competitive welcome bonuses of 280% up to €12,000 (or equivalent value in crypto) plus 150 free spins upon signing. Gamers can also enjoy regular promotions, tournaments, and lotteries. The platform also processes payout requests instantly via more than 10 popular cryptocurrencies like BTC, ETH, LTC, DOGE, USDT, and BNB.

‘’From the time players register to the moment they want to withdraw their winnings, we have ensured that every step is simple, fast, and rewarding.’’ Continued Bety chief executive, Durrant Nagra. ‘’The overwhelmingly positive feedback from our members is a clear indication that crypto gambling can be a truly premium experience.’’ Bety team.

Bety Casino has set out to be a game changer amongst other crypto casinos, a platform with exceptional value for users and players. From its notable features like its no KYC policy and fast transactions to its curated premium game library and rewarding bonus system, Bety delivers on key expectations for today’s crypto gamblers, combining variety, speed, and security in one platform.

In addition to its active customer support, advanced security features, and transparent operations, Bety is steadily positioning itself as the platform of choice for discerning players in 2025 and beyond.

About Bety Casino

Bety is a globally leading cryptocurrency gaming and betting platform offering an elite casino and sports betting experience. The platform leverages blockchain technology to ensure transparent, secure, and efficient transactions. Supporting 10+ cryptocurrencies, Bety allows players to make instant transactions with no hidden fees or delays.

Users can follow Bety platforms to stay tuned:

Website: https://www.bety.com 

Twitter/X: @betyofficial88

Telegram: @Betyofficial08 / @Betyofficial888

Facebook: www.facebook.com/people/BETY/61577217343728/

Instagram: @betyofficial88

The post Bety Casino Launches New Premium Platform with Trusted Licensing, Instant Crypto Withdrawals, and Elite Gaming appeared first on European Gaming Industry News.

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Esports Charts Becomes Official Viewership Analytics Partner of StarLadder Budapest Major 2025

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Esports Charts, the leading esports viewership analytics provider, has partnered with StarLadder, a pioneering tournament organiser. The Budapest Major 2025 marks a highly anticipated comeback for StarLadder, as it is their first Counter-Strike Major since 2019 and a significant return to the top-tier esports arena.

As the official analytics partner of the StarLadder Budapest Major 2025, Esports Charts will provide comprehensive, real-time audience data and insights throughout the event. This will empower organisers, teams, sponsors and fans with unparalleled transparency and a deeper understanding of the tournament’s global reach.

Artyom Odintsov, Co-founder and CEO of Esports Charts, said: “We are thrilled and proud to provide viewership analytics for StarLadder for the Budapest Major 2025. Since both Esports Charts and StarLadder are Ukraine-born companies, we share similar values and deal with similar challenges, which brings us even closer.

“It’s genuinely exciting to follow how viewership will develop at this Major. But knowing the expertise, drive, and passion that the organizers are bringing, I have no doubt we’ll witness some incredible things happen in Budapest.

“Esports Charts has always been driven by a mission to provide the esports community with accurate, actionable data, and we look forward to showcasing the impact and audience engagement of this world-class event.”

StarLadder has been a driving force in global esports for almost 15 years now, since hosting its first tournaments in 2011. Renowned for its innovation and reliability, the company has organised some of the industry’s most iconic events. These include the StarLadder Berlin Major 2019, which accumulated over 44 million hours watched and remains in the top 10 CS events by this metric, and the legendary StarSeries tournaments which started back in 2012.

Viacheslav Shcherbakov, Sales and Partnerships at StarLadder, said: “We’ve been working with Esports Charts since their founding and have always valued their professionalism and integrity. In a market where reliable data is essential, Esports Charts provides honest, transparent numbers, exactly the kind of insights sponsors and stakeholders rely on when assessing the potential reach of a World Championship event.

“We’re confident that this partnership will result in a high-quality analysis of our tournament’s performance and the audience data we’ll report to our partners. It’s a collaboration built on trust, shared values, and a deep understanding of what it takes to elevate esports to the next level.”

The Starladder Budapest Major 2025 will be held from November 24 to December 14 in Budapest, Hungary. The event will bring together the world’s top 32 Counter-Strike 2 teams to compete for a $1.25 million prize pool and one of the most prestigious titles in esports.

The post Esports Charts Becomes Official Viewership Analytics Partner of StarLadder Budapest Major 2025 appeared first on European Gaming Industry News.

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Superbet Becomes New Main Sponsor of Jagiellonia BiaƂystok

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Superbet has become the new main sponsor of Jagiellonia BiaƂystok. The logo of one of Poland’s leading bookmakers will appear on the front of the Podlasie team’s match jerseys. This is the fourth Ekstraklasa club, alongside Lech PoznaƄ, Górnik Zabrze and GKS Katowice, to join the bookmaker’s extensive sponsorship portfolio.

The new partnership is more than just a logo on a jersey – the collaboration between Jagiellonia and Superbet is intended to have a particularly fan-focused nature. The brand is announcing numerous dedicated campaigns, events and surprises aimed at fans of the yellow and reds. The first of these has already launched with the announcement of the partnership – and will undoubtedly delight anyone planning to purchase the new jersey.

Superbet will pay a 100 PLN bonus towards the purchase of an official Jagiellonia match jersey. A total of 1920 jerseys will be available as part of the promotion – a number symbolically related to the year the club was founded. The promotion is valid both in-store and online and is open to all Superbet app users.

“When making a purchase in a stationary store, all you need to do is show the installed application, and for online customers, verification will take place via the email address: [email protected], to which you can simply send a short message, and in response, fans will receive a unique code entitling them to purchase a T-shirt at a discount,” explains Bartosz Malaka, Head of Marketing & Sponsoring at Superbet.

However, this is not the end of surprises for fans of the BiaƂystok club, because if they register using the special code “JAGA,” they will also receive a welcome bonus.

“Jagiellonia fits perfectly into our sponsorship strategy – it’s a club with ambition, a strong identity, and enormous potential that combines modernity with local character. W’’re thrilled to be embarking on this journey together. Our logo will now appear on the fronts of the jerseys of four Ekstraklasa clubs, confirming our continued leadership in sports sponsorship,” said Ɓukasz Seweryniak, General Manager of Superbet Polska.

“Jaga is the perfect partner for us – with a great history and a huge, loyal community of fans who live and breathe this club every day. With them in mind, we’re preparing a whole package of activations, surprises, and events designed to build even stronger bonds. We want to show that just as Jaga is a super club, Superbet is a super sponsor,” Malaka said.

“I am extremely proud and happy to have entered into a partnership with such a renowned and recognizable brand as Superbet. I would like to emphasize that this is the highest-ever sponsorship agreement in the club’s history, which further underscores the importance of this partnership. I believe the word ‘partnership’ is key in the context of our agreement. I am most pleased that we are not just gaining a sponsor, but a true partner with whom we will achieve great things together,” said Ziemowit DeptuƂa, President of the Management Board of Jagiellonia BiaƂystok SSA.

The partnership with Superbet is another important step in Jagiellonia’s development – not only in terms of sporting activities, but also in terms of modern marketing and fan engagement. Both parties emphasize that this will be a collaboration based on genuine commitment and closeness to fans.

The post Superbet Becomes New Main Sponsor of Jagiellonia BiaƂystok appeared first on European Gaming Industry News.

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