North Carolina Legislative Bodies in Disagreement Regarding Tax Increase Proposal for Legalized Sports Betting
Loosening the Grip on Sportsbooksby: Mike "The Gambler" Savio 05/23/2025 07:45 Sports Betting Taxes Image by DiscoA340, CC0, via Wikimedia Commons
Insider's Edge
- North Carolina Senate's budget proposal aims to bump the current sports betting tax rate from 18% to a whopping 36%
- House Budgets often play it safe, with the Senate aiming to rake in more revenue for state coffers
- However, both chambers are keen on funneling additional funds into UNC-system schools
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Diving Deeper
- North Carolina's Tax Tussle: Senate Bill 257, a part of the $65 billion North Carolina budget, proposes a staggering increase in the sports betting tax rate from 18% to 36%, set to take effect October 1, 2025[2][4]. It's a power play aimed at significantly boosting state revenues.
- Louisiana's Bet on Athletics: Louisiana isn't far behind, as its House Bill 639 raised the online sports betting tax from 15% to 21.5%, effective August 1, 2025[5]. The change is solely dedicated to supporting college athletic departments, with 25% of the tax revenue earmarked for a dedicated fund benefiting NCAA Division 1 programs[5]. The retail sports betting tax rate, however, remains steady at 10% in the bayou state[5].
- Illinois' Graduated Tax: Illinois made a strategic move in its FY 2025 budget, switching from a flat 15% tax rate to a graduated one, with the rate reaching a high of 40% based on revenue levels[1]. This tiered approach shows that the windy city isn't messing around when it comes to sports betting revenue.
- Cautious Conservatives: Retail sportsbooks typically face an 8% tax rate, while their online counterparts dip a bit deeper, often at around a 10% tax rate[3]. However, it seems that not all states are eager to raise taxes to the levels we're seeing in North Carolina and Illinois.
This hands-on look at current sports betting tax rates across the US reveals a growing trend toward increased taxation by lawmakers looking to bolster their state's coffers. Though the House and Senate proposals differ in their approaches to sports betting taxes, the end goal remains the same: to maximize revenue for states and universities alike. Keep an eye on this developing story, and remember, the house always wins...well, most of the time 😂🃏✨💸.
- In the realm of sports betting, North Carolina's Senate aims to boost the current tax rate from 18% to 36%, a move that could potentially rake in more revenue for state coffers, as detailed in Senate Bill 257.
- Politics and policy-and-legislation play a significant role in sports betting taxes, as evidenced by the North Carolina Senate's proposal, which is part of the $65 billion North Carolina budget.
- The proposed sports betting tax increase in North Carolina could be leading the way, as Louisiana has already raised its online sports betting tax from 15% to 21.5%.
- The online casino industry, including sports betting, is often intertwined with general news and politics, as these tax proposals demonstrate the growing interest of states in maximizing revenue from this lucrative sector.
