The US flag in front of the Senate building. Source: Shutterstock

US Senators Want to Repeal Excise Tax on Gambling

In the United States, Senators Catherine Cortez Masto from Nevada and Cindy Hyde-Smith from Mississippi have introduced a bill titled “The Repeal of Excise Taxes on Betting and Gambling.” The American Gaming Association (AGA) quickly endorsed this initiative, arguing that the proposed law could save operators tens of millions of dollars annually in taxes.

According to the AGA: "With sports betting legalised in 38 states, this outdated tax disadvantages licensed operators while inadvertently benefiting illegal bookmakers who neglect customer responsibility, evade taxes, and lack measures to prevent minors from accessing their services.”

Senator Dina Titus from Nevada is expected to support the bill as well, having long advocated for the tax's repeal. Earlier this year, she testified in front of a House committee, describing the tax as a facilitation for the black market.

Currently, this bill is one of two proposals aimed at either abolishing the gambling excise tax or modifying its application. It’s worth noting that the federal sports betting excise tax was established over 70 years ago as a means to combat illegal sports betting operations.

1 August 2024, 10:48

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