U.S. Industry Heavyweights Warn of Sports-Betting Tax Turbulence
Gamblingcompliance.com, April 17, 2018, by Chris Krafcik
The U.S. casino industry’s ex-chief lobbyist and Nevada’s former top gambling regulator sounded the same alarm at a conference last week: many U.S. states are considering sports-betting tax rates that do not square with industry economics.
“From what I’ve read, there are an awful lot of governors and legislators who think sports betting is a golden goose,” Frank Fahrenkopf Jr., who led the American Gaming Association from 1995 to 2013, said during a sports law symposium last Friday at the University of California, Berkeley.
With a U.S. Supreme Court ruling on a federal sports-betting ban expected in the near future, 14 states, according to GamblingCompliance’s U.S. Sports Betting Tracker, have considered legislation this year that would regulate and tax sports wagering if that ban is overturned.
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