📢 USA 🇺🇸: Maryland Governor Proposes Increasing Sports Betting Tax to 30%

📢 USA 🇺🇸: Maryland Governor Proposes Increasing Sports Betting Tax to 30%

Currently set at 15%, the proposed increase aims to align with neighboring states and generate additional revenue for state programs.

➡️ If the new rate is approved, sports betting revenue in Maryland since the program's inception would have surpassed $256 million. In just the first five months of fiscal year 2024, the state market generated more than $40 million.

➡️ The bill also proposes eliminating advertising deductions for operators and introducing measures to combat illegal offshore gambling.

➡️ The proposal must still be approved by the state legislature, where it may face modifications or rejection. Operators have already expressed opposition to the tax increase.

➡️ Regional Comparison: Pennsylvania imposes a 36% tax on sports betting, while New York's rate exceeds 50%.

#news #USA #sportsbetting

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