Powerball is a game played in a lot of states across the United States. It has been around for a while but has recently gained popularity in Nevada. The reason behind this is the availability of prize money. The amount of prize money on offer is pretty substantial.
Residents of the state of Tennessee have been buying powerball tickets for years. Like most states in America buyers have to face a considerable tax on the prize money won. In some states the tax rate is ten per cent but in Tennessee it is only seven per cent. Residents of Arkansas, California, Rhode Island, New Jersey, New Mexico, Texas and Florida have all won millions of dollars in Powerball. But because of the heavy taxes involved, these states do not have many Powerball tickets available for sale in their states.
Residents of Alaska, Nevada and Oregon are not permitted to place a bet on Powerball. The lack of gambling license in these states means that they cannot place bets on Powerball either. But there are other reasons why residents of these states are not allowed to play Powerball. The lack of gaming tax revenue in these states means that casinos here do not make much money from ticket sales. In turn this means that casinos here do not benefit from the tax revenues generated by Powerball sales.
There are many reasons why casinos do not benefit from Powerball sales. First, there is no legal gambling component to Powerball. Without the backing of the Gaming Commission of Nevada the winner of the game is not entitled to receive any form of winnings. The second reason is that there are no regulated casinos in Nevada. There are only Las Vegas casinos. So even though Powerball is not a legal gambling component to it, that does not mean that people can’t gamble on it.
That leads us to the third reason why Nevada residents want to keep powerball out of Nevada. Powerball would force us to create new licensing requirements for all of the individuals who wish to partake in Powerball. For example, if one person wanted to play with powerball she would have to get a permit from the state gaming agency. Each time she did so she would have to get another permit and so on.
The gaming industry in Nevada is quite lucrative. It generates more revenue than all other industries combined. And yet the gaming industry in Nevada is not regulated by the state. Without regulation of the gaming industry could easily loose millions of dollars in revenue, which would hurt the state financially.
Because of all three reasons the residents of Nevada have voted in favor of keeping the lottery up and running. Although the residents in California and New York have approved the use of powerball tickets. But as soon as the New York State Lottery Commission puts a limit on the amount of money that each individual could win, the same problem will occur in Nevada. The new limit requires that all winnings are shared by all state residents. So you could still play powerball, but you won’t be able to jackpot the prize.
In summary, we have three reasons why people in southern states want to eliminate or reduce the involvement of powerball in their states. Our guess is that they don’t like the idea of having to share the jackpot with other people. Also we feel that the lack of regulation has caused the lottery games in many states to become less than profitable. And finally we believe that Nevada residents want to eliminate the risk that comes with playing the powerball.