Legalization of iGaming generates close to €1 billion in gambling revenue for the Dutch State.
The Dutch State hit the jackpot with the introduction of legal online gambling, doubling its revenue to an impressive €1 billion. According to Statistics Netherlands, gambling taxes skyrocketed to nearly 1 billion euros as a result.
Since autumn 2021, residents of the Netherlands have enjoyed the privilege of engaging in legal online gambling. The gambling market experienced a remarkable surge, with over one in 20 Dutch residents participating last year.
With the end of the COVID-19 crisis, gambling taxes saw a noticeable increase as Holland Casino establishments welcomed guests freely. The government’s coffers received a substantial boost of 900 million euros in total.
Additionally, the government’s revenue from the sale of emission allowances saw a swift rise due to increasing prices. Companies now acquire an emission allowance for each ton of CO2 they emit, contributing to this impressive growth.
While the income from gambling taxes and emission rights is noteworthy, it constitutes only a fraction of the government’s overall revenue. The combined contributions from all taxes and social security payments amounted to nearly 370 billion euros in 2022.
Overall, the Dutch government’s revenue experienced a notable 9 percent increase, reaching 415.5 billion euros. This growth can be attributed primarily to amplified corporate income taxes and increased earnings from natural gas, bolstered by rising global prices.
Thanks to the pandemic’s impact, the government reduced spending on support measures. As a result, the deficit in 2022 amounted to 1.4 billion euros, equivalent to 0.1 percent of the nation’s gross domestic product. This is a significant improvement from the 20.4 billion euros deficit in 2021.