In the United States, several prominent figures in the industry recently attended a dedicated webinar where the current federal excise duty on sports betting was discussed in detail.
According to Monday's news domain report on SportsHandle.com, legislation passed in 1951 collected a 10% tax on all sports betting revenues as a way to help federal authorities combat illegal operations. However, the source specified that the measure had the opposite and economically detrimental effect, forcing all but four of Nevada's overland bookmakers to close.
Apparently some relief was obtained in the early 1970s when joint pressure from industry led to a reduction of this ratio to 2% . Apparently this followed in 1982 by further cut to just 0.25TP1T although the controversial $ ’ professional stamp ”On every person employed by the bookmaker remained in place.
Despite these cuts, many in the US sports betting industry reportedly continue to mourn the presence of the tariff, especially after 2018 the lifting of the previous federal ban on most sports betting included in Protection of Professional and Amateur Sports Act (PASPA) . A one-off webinar organized by a trade publisher Sports Betting Community Limited in collaboration with the University of Nevada Las Vegas' Boyd School of Law allegedly heard from several stakeholders, including Bill Miller, president and CEO of the American Gaming Association, about the moves to cancel this tax or reduce it even further .
Miller reportedly told webinar attendees that the industry " common enemy ”Are still foreign sports betting operators who remain free of any obligations under the federal excise tax on sports betting. The attorney allegedly also stated that " the time has come for us to support the legal industry ", Ordering operators to do everything possible to counteract ' both illegal corner books and illegal marine sites ’.
For its part, and Dina Titus with United States House of Representatives reportedly told listeners that the original purpose of the excise duty was help to control illegal gambling but no one knows the final destination of the collected funds. A Nevada Democrat allegedly stated that tied to the tariff " head tax "Moreover, it had an unintended effect discouraging bookmakers from reinstating dismissed workers during the coronavirus pandemic.
Titus reportedly told participants ...
" It's like taxing illegal whiskey distillers . In Washington, we still have problems with old and negative images of games. Reduce the tax on games " Oh, this is a sin ". So it's hard to sell. "
Nevertheless, a representative for suburban Las Vegas reportedly revealed that she was working with a Republican counterpart Guy Reschenthaler last month to present the recipes which will completely abolish excise duty . Reportedly announced that this measure is " independent "And may have some hope of passing" if we manage to include it in a repair pack or otherwise, or in one of these "Christmas tree" packages.