Some casino executives say as much as 70% of online winnings go to their partners in online ventures.
Money from online winnings must be shared with partners like tech platforms and, in the case of sports betting, sports books, and is not solely for the casinos to keep. While welcoming the additional revenue, casino executives caution that internet gambling winnings can be misleading in terms of the overall health of their businesses. Jane Bokunewicz, director of the Lloyd Levenson Institute at Stockton University, which studies the Atlantic City gambling market, said internet gambling is becoming part of the new normal for many gamblers.
While it has undoubtedly provided a new revenue stream for Atlantic City’s casinos, internet gambling appears to be permanently changing the habits of some gamblers who would rather bet from home, the office, the beach or other places instead of visiting casinos in person. He declined to comment on the change in the bill reducing it from 10 to two years.
