The government coffers benefited greatly from the year after internet gambling was become legal. According to a newly released study on government finances, this policy helped increase tax revenue from gambling by more than 100%, reaching around 1 billion euros.
In the fall of 2021, the government of the Netherlands legalized online gambling for its citizens. The market blew out, stats from the Gambling Authority show. In the past year, more than 20% of Dutch adults used a legal online gambling site.
With the conclusion of the coronavirus epidemic came a rise in both permitted internet gambling and gambling taxes. There would be no barriers to entry in Holland Casinos. The gaming industry brought approximately 900 million euros in taxes for the government.
CBS also reported a dramatic increase in government revenue from the sale of emission permits. Every ton of carbon dioxide that a company releases into the atmosphere costs money. As the overall quantity of permits drops, their price rises dramatically.
CBS underlined that while casino taxes and emission right earnings have increased significantly, they still make up a relatively modest share of the government's total revenue. In 2022, total tax and social security revenue was close to €370 billion.
According to casino tutorials and news sites, the government took in a record 415.5 billion euros, up 9 percent from the previous year. The rise was driven mostly by an increase in tax revenue from corporations. Natural gas, which became significantly more costly on global markets as a result of Russia's invasion of Ukraine, also brought in extra money for the government.
Meanwhile, the government saved money on assistance programs because of the coronavirus epidemic. A 0.1 percent drop in GDP translates to a 1.4 billion euro deficit for the government. The government incurred a deficit of 20.4% of GDP in 2021.