Title: Proposed Sports Betting Tax Hikes Across the US: What's Brewing?
Boosting Tax Rate for Sports Betting Operators Proposed in North Carolina
By: Mike Sav, 17th of April, 2025 - 2:04 AM
The Lowdown
Here's what's shaking up the sports betting landscape:
- North Carolina's Proposed Jump: A Senate bill plans to jack up the sports betting tax from 18% to a whopping 36%, set to kick off on October 1st, 2025 - as part of a larger budget scheme. This would place North Carolina's tax rate among the third-highest in the US.
- Maryland's Negotiated Hike: The Old Line State recently increased its mobile sports betting tax from 15% to 20%, an initial proposal of 30% was negotiated down.
- Illinois' Per-Wager Tax Shift: Though not a percentage increase, Illinois introduced a new tax of $0.25 on the first 20 million bets and $0.50 on subsequent bets - a significant change from the previous setup.
The Nation's Sports Betting Tax Rates: A Comparative Study
- Top Taxers: New Hampshire, New York, and Rhode Island claim the highest sports betting tax rates at an eye-catching 51%.
- Lower Tax Rates: Compared to this, states like Indiana and Michigan boast effective tax rates of 9.5% and approximately 5.9% respectively - thanks to promotional deductions.
- Graduated Rates: Illinois boasts a unique graduated tax rate system, but it specifically applies to operators' revenue, not bet-by-bet taxes.
These changes demonstrate states' ongoing efforts to find a balance between meeting revenue targets and minimizing potential negative impacts on the sports betting industry.
Stay ahead of the game by keeping tabs on these developments with Mike Sav's expert analysis and insider insights at casinos.com!
Sources:
- Top-Gambling-Sites
- Legal Sports Report
- BradyGamingLaw
- PlayUSA
- PokerFuse
- To explore more online gambling options, you might find the online casinos in Las Vegas appealing, especially with the increasing emphasis on sports betting across the US.
- As a sports enthusiast, it's worth considering placing sports bets online, but you should be aware that the tax rates differ significantly among states, such as North Carolina's proposed hike from 18% to 36% for sports betting, which would put it among the top three tax rates in the US.
