How Sports Betting Impacts State Budgets (Video)

Sports betting is now legal in many states – how much tax revenue is it bringing in?

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The Supreme Court overturned a 26-year-old law banning sports betting in the majority of U.S. states on May 14, 2018. In the years since, dozens of states have passed laws to allow gambling on sports with more likely to follow. Just how much revenue is this new taxable activity bringing to states? And will it be enough to fill budgets depleted by Covid-19? In this video, Bloomberg Tax’s Sam McQuillan dives into the gamble many states are making on legalized sports betting.


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