Arizona Governor Proposes Major Sports Betting Tax Increase to Offset Federal Funding Cuts
Arizona Governor Katie Hobbs has unveiled a bold proposal to significantly increase the state’s tax rate on sports betting, a move that aims to generate additional revenue for the state budget. Under the proposal, the tax rate for large sports betting operations would rise from 10% to 45%, targeting sportsbooks with monthly revenue exceeding $75 million. This measure is designed to address a shortfall in federal funding, which Hobbs claims will place added pressure on the state’s budget. The proposal comes […] The post Arizona Governor Proposes Major Sports Betting Tax Increase to Offset Federal Funding Cuts appeared first on World Casino News.
Arizona Governor Katie Hobbs has unveiled a bold proposal to significantly increase the state’s tax rate on sports betting, a move that aims to generate additional revenue for the state budget. Under the proposal, the tax rate for large sports betting operations would rise from 10% to 45%, targeting sportsbooks with monthly revenue exceeding $75 million. This measure is designed to address a shortfall in federal funding, which Hobbs claims will place added pressure on the state’s budget. The proposal comes […]
The post Arizona Governor Proposes Major Sports Betting Tax Increase to Offset Federal Funding Cuts appeared first on World Casino News.
