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Industry
October 14, 2024
Labour Party Considers £3bn Tax Hike for Gambling Companies
The gambling sector in the UK is currently going through regulatory changes amid the government’s efforts to make the rules suitable for the digital age. While the changes are related to the White Paper following the review of the Gambling Act, a new report suggests some gambling operators may be affected by a tax hike. […]
Industry
October 8, 2024
Proposition JJ Seeks to Retain Extra Betting Tax Revenue in Colorado
A proposal that will appear on the ballot in November will try to keep excess tax proceeds from sports betting in Colorado and use them to fund different water projects. The Proposal Will Appear on the Ballot in Colorado Next Month This is the purpose of Proposition JJ, under which Colorado voters will be asked […]
Business
October 4, 2024
FDJ, Not Concerned About French Gambling Tax Rise Amid Stock Price Hit
Shares of French gaming group La Française des Jeux (FDJ) have plummeted on Thursday following a report that the French government is contemplating the idea of boosting social security contributions from the gambling sector starting in 2025. According to the business daily Les Echos, this measure is aimed at enhancing the Social Security budget, leading […]
Industry
September 30, 2024
US Tax Foundation Discusses the Disparity in State Betting Taxes
The Tax Foundation has published a report on the various states’ approach to how sports betting should be taxed. The foundation highlighted noticeable disparities between states with high taxes and ones in low taxes. The Tax Rates Vary from State to State The report pointed out that New York, New Hampshire and Rhode Island have […]
Industry
September 23, 2024
Dutch Law Firm Critiques the Gambling Tax Hike
A gambling law firm has criticized the Dutch government for ignoring the industry’s tax hike-related concerns. The Netherlands, for context, is considering a tax increase, which many believe would hurt the regulated market. The Tax Changes Displeased the Industry The tax increase was proposed earlier this year. The government expects to rake in hundreds of […]
Industry
September 10, 2024
India Holds Firm on 28% GST for Online Gaming despite Industry Pushback
According to the latest data by the Indian government, revenue from online gaming has reached ₹6,909 crore ($832 million) in just six months, rising by 412% despite the recent Goods and Services Tax (GST) hike to 28%. Finance Minister Nirmala Sitharaman confirmed these figures during the 54th meeting of the GST Council on 9 September […]
Industry
August 27, 2024
Pennsylvania Surpasses New York and Nevada in Casino Tax Revenue
According to the American Gaming Association (AGA)’s annual report for 2023, Pennsylvania has claimed the crown for gaming-specific tax revenues, surpassing every other US state. The Keystone State’s gambling sector is showing no signs of slowing down, as July’s results highlighted a robust and diverse industry that can deliver sustained growth despite emerging challenges. Pennsylvania […]
Industry
August 7, 2024
RMG Changes Would Provide Relief to Indian Gaming Businesses
India might allow 100% Foreign Direct Investment (FDI) for real-money gaming companies, without official approval, reports say. According to Mint, the government has proposed to allow companies to access full FDI via an automatic online RMG route. If enacted, this measure would allow monetary amounts up to the value of the entire business to be […]
Legal
August 2, 2024
Senators Want to Eradicate the Federal Excise Tax via Bipartisan Bill
Senator Cindy Hyde-Smith (D-Nev.) and Senator Catherine Cortez Masto (R-Miss.) want their bipartisan bill called the Withdrawing Arduous Gaming Excise Rates (WAGER) Act to eliminate the federal excise tax that is currently applied to gambling operators’ handle. The tax relief would provide enhanced protection to legal sportsbook operators and gaming businesses, help Nevada and Tribal […]
Industry
August 2, 2024
Surcharge to Affect DraftKings Winning Clients in Four States
Several US states announced plans to increase sports betting taxes this year. This resulted in concerns from betting operators who are offering their services in a highly competitive market. Despite the competition, DraftKings and FanDuel so far retain dominance across the country, holding a significant part of the market share. Still, the high tax rates […]