Withum

FEBRUARY 27, 2024

When it comes to sports betting, taxes play a crucial role in shaping the industry. In May 2018, the Supreme Court invalidated The Professional and Amateur Sports Protection Act (PASPA), a federal law enacted in 1992 restricting sports betting in most states. The state levies a tax rate of 36% on sports betting revenue.

Sports 59

Sports Delaware Vermont Tennessee 59

PYMNTS

FEBRUARY 2, 2021

But perhaps his best quote comes from his other pastime, gambling: “I want people to understand, gambling is not a bad thing if you do it within the framework of what it’s meant to be, which is fun and entertaining.”. To an extent, that same spirit and intention is behind the recent spate of government approvals for online gambling.

Tennessee 105

Tennessee Gambling Sports Entertainment 105

PYMNTS

JUNE 20, 2016

The New York legislature has given a thumbs-up to fantasy sports, passing a bill early Saturday (June 18) that explicitly legalizes and regulates fantasy sports betting in New York. The state’s casinos, incidentally, are avid opponents of the bill, on the grounds it pushes a “massive expansion of gambling.”

New York 40

New York Sports Legal Gambling 40