A new report finds legalizing sports gambling could boost revenue for states like Kansas, but any windfall is likely to be brief.
Sports gambling began to tempt lawmakers after a U.S. Supreme Court ruling legalized it earlier this year. The report released Thursday from the Pew Charitable Trusts said sports book likely wont be a magic pill to cure state budget issues.
Mary Murphy, one of the authors of the study, said tax collections from sports betting may not be new revenue. Rather, its likely to be money cannibalized from places such as casinos and the tax proceeds they generate. Thats based on past experiences when gambling has been expanded.
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