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Industry
May 29, 2024
Sweden: BOS Warns Tax Increase May Link to Rise in Problem Gambling
Ahead of the increase in the gambling tax rate in Sweden, a new report highlighted the potential negative impact of the change. The current tax rate of 18% is expected to increase to 22% for Swedish gambling operators effective from July 1, 2024. This change is expected to bring additional tax revenue but along with […]
Sports
May 24, 2024
Massachusetts Senate Declines Sports Betting Tax Rate Increase
Available in nearly 40 US states, legal sports betting already reaches a large number of the country’s population. With regulation of the activity in the hands of lawmakers in different states, the tax rate is different from one jurisdiction to the other. Massachusetts was among the states that legalized betting in 2022 but it wasn’t […]
Industry
May 23, 2024
PAGCOR Shuts Jade Sportsbet Down Over Unpaid Fees
Jade Entertainment and Gaming Technologies, a Philippines-based gaming and betting operator, has been forced to shut down the operations of its sports betting brand. This development was the result of Jade Sportsbet missing the deadline to pay its mandatory fees. Inside Asian Gaming (IAG) reported that the Philippine Amusement and Gaming Corporation (PAGCOR), a body […]
Industry
May 17, 2024
Congresswoman Titus Wants Federal Excise Tax Revoked
Congresswoman Dina Titus expressed her support for repealing the current federal excise tax on sports betting at the SBC Summit North America last week. The fifth edition of the leading conference and tradeshow dedicated to the online betting and gaming industry in North America was held in New Jersey, one of the largest sports betting […]
Industry
May 16, 2024
Netherlands Coalition Agreement Pushes for 37.8% Gambling Tax
Over the last few years, the Dutch gambling sector has undergone extensive changes. Last summer, lawmakers voted in favor of an untargeted gambling advertising ban. The rules effectively prohibited advertising by gambling operators via TV and radio. Moreover, the ban extended to print media, collaborations with sports organizations and even outdoor advertising. Now, further changes […]
Industry
May 10, 2024
Brazil Implements New 15% Player Winnings Tax
Brazil’s Federal Revenue Service has introduced new guidelines for taxing net prizes obtained from fixed-odds lottery bets, subjecting them to a Personal Income Tax (IRPF) rate of 15%. This development marks another step forward in the country’s efforts to finalize its updated gambling legislation, ushering in a safe and sustainable market that will benefit all […]
Industry
May 8, 2024
New Study Explores the Benefits of Sports Betting Taxation
Many US states are reaping the rewards of legalized sports gambling, with tax revenues soaring to nearly $2.5 billion in 2023, according to a recent analysis conducted by online lending marketplace LendingTree. This sum represents a substantial year-over-year increase of 34.7%, demonstrating the growing popularity and profitability of the gambling sector nationwide. Sports Betting Tax […]
Sports
April 30, 2024
North Carolina Gov. Cooper Supports Changes to Sports Betting Taxation
Early in March, North Carolina became the latest state to launch its legal sports betting market. Joining a growing list of more than three dozen US states, The Tar Heel State rolled out mobile sports betting, providing sports fans and bettors alike a plethora of options for wagering on their favorite sports. As with any […]
Industry
April 26, 2024
ATG CEO Hints Sweden’s Government Is Open to Amend Tax Hike
Swedish gambling operator ATG’s chief executive officer, Hans Lord Skarplöth, has suggested the government might be willing to amend the gross gaming revenue tax hike proposal. Seminar for 20 Politicians In a blog post on the ATG platform online, CEO Skarplöth explained the unique betting company launched in 1974 has hosted a gambling-connected seminar for […]
Industry
April 23, 2024
Consumer Preference Shift Propels Sin Tax Revenue in the US
For years, the United States has benefitted from taxes on alcoholic beverages and cigarettes. Casino gambling and more recently, sports betting, iGaming and cannabis taxes also help generate billions of annual taxes across the country. And while some US states still have strict laws for sports betting and cannabis products, many have already legalized the […]