The Gambling Rules & Regulations in Myrtle Beach MyrtleBeachSC News
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Myrtle Beach is actually a popular tourist destination, known for its wide variety of activities and entertainment options. Gambling is one of those activities, and there are plenty of casinos in the area. However, like any other place where gambling is available, Myrtle Beach has rules and regulations in place to make sure it’s done safely and responsibly.
Read on to learn more about the gambling rules and regulations in Myrtle Beach.
Gambling in South Carolina
Gambling in South Carolina is only allowed at licensed casinos. There are currently four casinos in Myrtle Beach: Big M Casino, Diamondback Casino, The Palace Casino, and Oceanfront Casino & Resort. All of these casinos are located on or near the water, which makes them popular among tourists.
All of the casinos in Myrtle Beach offer slots, video poker, and table games. Big M Casino also offers blackjack and poker tournaments.
The minimum gambling age in South Carolina is 21 years old. Therefore, if you are under age, you will not be able to play.
Gambling Winnings Taxes
Any gambling winnings in Myrtle Beach are subject to state and federal taxes. The tax rate for federal taxes on gambling winnings is 25%. The state tax rate for gambling winnings is 5%. The gambling laws in Myrtle Beach are designed to keep gambling safe and responsible. Some of the laws include:
-All casinos must be licensed by the state of South Carolina.
-All casinos must follow strict security measures, including having a security guard on duty at all times.
-All casinos must have a responsible gambling policy in place. This policy must include information on how to gamble responsibly and how to get help if you or someone you know has a gambling problem.
-All casinos must comply with the state’s anti-money laundering laws.
-All casinos must have a minimum return to player (RTP) percentage of 80%. This means that for every $100 that is wagered at the casino, the casino must pay out at least $80 in winnings.
Online casino games
Online gambling is not currently legal in South Carolina. However, there are a few exceptions. For example, you can legally play online lottery games and horse betting. You could find a real money slots app that is convenient and easy to use in the area.
Cruise casinos
There are also two cruise casinos in Myrtle Beach: Big M Casino Cruise I and Big M Casino Cruise II. These cruises offer gambling, as well as other entertainment options such as live music and dancing. The minimum gambling age on these cruises is 21 years old.
Cruise casinos are not subject to the same taxes as land-based casinos. However, they are still subject to federal taxes. The tax rate for federal taxes on gambling winnings from cruise casinos is 30%.
Conclusion
As you can see, there are a few options for gambling in Myrtle Beach. However, it’s important to remember that gambling should always be done responsibly.
