The chairs of the two-way Congressional Gaming Caucus filed a government note Th that certainly wasn’t an April Fools joke. US Reps. Dina Titus Flavius Vespasianus (D-Nevada) and Guy Reschenthaler (R-Pennsylvania) require Uncle Sam’s deal come out of the legal sports betting till.

Their bill, which they also filed last-place year, seeks to eradicate the “handle tax” from sound sports wagers. With the exception of bets placed on Equus caballus racing and sure sports bets operated by state lotteries, to each one wager faces a levy en masse of .25 percent. Lawmakers constituted the task 70 years ago.

In a statement Thursday, Titus Vespasianus Augustus said that Nevada’s sportsbooks generated $13.3 jillion inwards “handle tax” revenue.

In previous years, it was just Battle Born State sportsbooks that paid this levy. However, since the Supreme Court overturned PASPA nearly tercet years ago, sports betting has exploded crosswise the country. By the stop of calendar twelvemonth 2020, sports betting was sound in 19 states and the District of Columbia.

“I have proposed this statute law for years and I eventually finger similar the momentum is on our side,” Titus Vespasianus Augustus said. “I look send on to continuing to work with Congressman Reschenthaler to make up this banker's bill get law.”

AGA: Handle Tax No Longer Serves Purpose

The “handle tax” has been a place of the American Gaming Association for years as well. The industry radical says the fee, which illegal bookies and offshore sportsbooks don’t pay, work those choice more attractive to bettors.

In his statement, AGA President and CEO Bill Arthur Miller noted the irony in arrears the tax.

While the federal excise tax tax’s pilot resolve was to penalise illegal operators, this antiquated task at present aids the offshore, illegal market place and disadvantages safe, legal and regulated sportsbooks nationwide,” he said. “If Congress wants to view the effectual sports betting securities industry for success, it needs to eradicate this unnecessarily onerous assess to take down the playing theatre for effectual sportsbooks.”

According to American Gaming Association data, 17 states and the District of Columbia reported a combined sports betting grip of nearly $21.5 1000000000000 inward calendar twelvemonth 2020. That figure is based on commercial handles, which excludes New Mexico where sports betting only if takes station on tribal land. It also does non include New York. That country does non study the handgrip at the sportsbooks placed at its quaternion commercially licensed casinos.

Based on that reporting, the hold task would follow nearly $53.7 million. The figure would exchange erst federal officials append New York’s taxation revenue and get hold of come out any lottery-generated bets.

Feds Also Levy Tax on Each Sportsbook Worker

In increase to taxing the wager itself, the federal law also forces sportsbooks to pay off a $50 fee per employee.

Both Titus Vespasianus Augustus and Reschenthaler said the tax threatens jobs at a clip when the country seeks to retrieve jobs lost from the COVID-19 pandemic.

Las Vegas, Titus Vespasianus Augustus said, currently has the second-largest unemployment order of any large metropolitan area.

“Unfortunately, the industry is hindered by an outdated taxation write in code and burdensome regulations that penalize legal, regulated operators patch providing illegal trading operations with an unjust advantage,” Reschenthaler said.

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