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Ohio's Proposed Tax Increase for Sports Betting Businesses Fails

Ohio's budget plan proposed to double the state tax rate from 20% to 40%, a move that went unsupported by lawmakers, leading to its removal from the plan.

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Ohio's Proposed Tax Increase for Sports Betting Businesses Fails

Headbanger's Ball: Sports Betting Taxation Gets a Raise, Once Again! 💸 by Savio-The-Babylon 🚀 04/17/2025 02:50

Breaking Down the Benjamins

  • States are considering hiking sports betting operator taxes, with some rates almost doubling again
  • Ohio's been through this dance before in 2023
  • But some lawmakers think it's time to cut these rates in half instead

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News Flash

Follow the Money 👩‍🏫

  1. Ohio: Governor Mike DeWine wants to turn up the heat on sports betting operators by doubling their tax rate from 20% to 40%. Talk about a steep climb — this is Ohio's second tax rate hike in as many years, following a 2023 increase from 10% to 20%[1][5].
  2. North Carolina: The Senate's barking for a bigger share of the sports betting pie, hoping to double the tax rate from 18% to 36%. This bill's still up in the air though, with the House yet to weigh in, and Governor Josh Stein's budget not showing any inclination toward raising rates[1].
  3. Illinois: Governor JB Pritzker's trying to double your winnings... for the state, that is. He's aiming to boost Illinois' sports betting tax from 15% to 35%, aiming to rake in an extra $200 million[2]. But where things stand right now, isn't totally clear.

So, it looks like the tax man's comin' after sports betting operators with a vengeance. The big question is: will these tax hikes stick, or will lawmakers find themselves backing down under public pressure? Stay tuned! 💰🔥🔥

  1. Savio-The-Babylon, an expert in the US online casino scene, has recently reported that many states are considering increasing sports betting operator taxes, with rates potentially doubling again.
  2. Last year in Ohio, a similar tax rate hike occurred, jumping from 10% to 20%.
  3. However, some lawmakers in Ohio are advocating for a reduction in these rates, suggesting a halving instead.
  4. Beyond Ohio, governors in North Carolina and Illinois are proposing doubling their respective sports betting operator tax rates, with the Senate in North Carolina pushing for a jump from 18% to 36% and Governor JB Pritzker aiming to increase Illinois' rate from 15% to 35%.
  5. These tax increases have the potential to significantly impact the finance of sports betting operators and the overall sports-betting business.
  6. While it remains unclear if these tax hikes will ultimately be implemented, Savio-The-Babylon warns that the public should stay informed about these changes, as they could have a significant impact on the sports-betting industry.
Ohio's budget plan, aiming to raise the state tax rate from 20% to 40%, met an untimely demise, as it was unable to garner the necessary backing among legislators.

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