Arizona governor proposes sports betting tax increase for large operators
The presentation includes increasing the state’s tax rate to 45 per cent.
US.- Arizona Governor Katie Hobbs’ executive budget proposal includes a proposal to increase the state’s sports betting tax rate to 45 per cent for the largest operators. All sportsbooks have paid 10 per cent since the market opened in 2021, but the proposal would create of a tiered fee structure.
For operators that report under $75m in average monthly revenue, the tax rate would remain at 10 per cent for online operations and 8 per cent for retail. For revenue over $75m, the rate would rise to 45 per cent. The increase would not affect Tribal operators.
In Virginia, a House subcommittee recently voted in favour of a bill to tax fantasy sports revenue. In Illinois, representative Daniel Didech has introduced a bill that aims to eliminate a fee introduced on sports bets last year. House Bill 5143 proposes amending the Sports Wagering Act to remove a charge of $0.25 on operators’ first 20,000 online bets and $0.50 per bet thereafter.
