The decision by lawmakers in Illinois to push ahead with an increase in sports betting tax could push other states across the US to take similar action, an analyst from consultancy B Global has warned.
Last week, the Illinois house of representatives passed a progressive wagering tax rate. This will see the state’s most prolific sports betting operators pay tax at 40%, a sharp rise from the current rate of 15%.
The new-look structure sets rates at between 20% and 40%, depending on each operator’s adjusted gaming revenue (AGR). Operators posting more than $200m (£157m/€184m) face the highest rate of 40% – the second-highest tax rate in the US behind New York at 51%.
Other boundaries include a 20% tax rate for operators with an AGR of under $30m, 25% for between 30m and $50m, 30% for AGR ranging from $50m to $100m and 35% for AGR of $100m to $200m.
The proposal, which forms part of the FY2025 budget in Illinois, is now with Illinois’ governor, JB Pritzker, for sign-off. Should Pritzk..
