Titus hopes 70-year-old sports betting tax is on the chopping block – The Nevada Independent
Staff, 2022-12-14 07:50:00,
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Nearly a decade after first proposing a repeal of a small, 70-year-old federal excise tax on all sports wagers placed in Nevada, Rep. Dina Titus (D-NV) is hopeful her efforts will finally succeed.
The nationwide expansion of sports betting gave Nevada partners in the fight to eliminate what has become known as the “handle tax.” Titus’ bill to repeal the fee now has 13 co-sponsors – all from states with legal sports betting.
Meanwhile, the American Gaming Association (AGA) has weighed in with research conducted on the illegal gaming market that showed the growth of legal sports betting has sliced into unregulated offshore operations. Thirty-one states and Washington, D.C., have legal sportsbooks. Another five states are expected to launch legal operations in 2023.
AGA Vice President of Government Relations Alex Costello said the sports betting excise tax disadvantages the legal operators as opposed to the illegal market.
“If we continue to draw people into the…
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