Wyoming Contemplates Raising Taxes for Sportsbooks
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### Proposed Tax Rate Increase for Online Sportsbooks
In an unspecified location, a committee has proposed a tax rate of 20% for online sportsbooks. This increase, if implemented, would double the current 10% state tax on gross win, a move aimed at bringing the tax rate closer to the national average for states with legal online sports betting.
However, the location where this proposal is being considered remains undisclosed. Similarly, the article does not provide information about the tax revenue generated from online sportsbooks in Wyoming since the current year.
### Impact on State Tax Revenue in Wyoming
Since the launch of sportsbooks in Wyoming in September 2021, the state has collected approximately $3.8 million in taxes on $69 million in sports betting revenue. In 2024, Wyoming brought in $24.9 million from 16 gambling vendors overall. The proposed tax increase is expected to generate additional revenue for the state, but it has also raised concerns among industry stakeholders who argue that higher taxes could harm the growth of the state's gaming industry.
### The Online Casino Industry Insider
With a reputation as one of the most trusted insiders in the online casino industry, Michael Savio's reviews cover the industry's developments and trends, offering readers a reliable source of information and analysis. His reviews often include online casino reviews, offering detailed assessments of various platforms and their offerings.
As the online casino industry continues to evolve, Michael Savio's work remains a valuable resource for those seeking to stay informed about the latest developments and trends.
Michael Savio, a journalist known for his reviews on the online casino industry, has a unique perspective due to his background in the Las Vegas retail industry. In his latest reviews, he discusses sports betting and online casinos, providing insights into the financial aspects and business trends of the industry. Interestingly, a proposed tax rate increase for online sportsbooks in an unspecified location aims to bring taxes close to the national average, potentially impacting the growth of the industry. This proposed increase, if implemented, may generate additional revenue for the state, but it has raised concerns among stakeholders. Savio's reviews continue to be a reliable source for tracking the evolving online casino industry, featuring detailed assessments of various platforms and their sports-betting offerings.
