Massachusetts senator proposes increase to sports betting tax rate
The initiative would raise the tax rate for online sports betting operators to 51 per cent.
US.- Massachusetts senator John F. Keenan has proposed an amendment to the Senate’s budget that would increase the state’s online sports betting tax rate from 20 to 51 per cent. If approved, Amendment 828, would change the Senate’s 2025 budget plan, which is being discussed by state lawmakers.
Massachusetts also has retail sports betting, which is taxed at a 15 per cent rate. The state launched regulated sports wagering in 2023 and has since collected $127m in tax revenue, according to data provided by the American Gaming Association.
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Massachusetts’ gaming tax revenue from sports betting goes to five funds, with the state’s General Fund receiving the majority of proceeds. Since 2023, it has received $57.2m from betting. New Jersey and Illinois are also considering tax increases for sports betting operators.
