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Taxes on in-person wagers tend to be higher and vary more state to state.Ĭasinos, P.J. In terms of neighboring states, Pennsylvania’s mobile tax is 36%, Virginia’s is 15%, Washington D.C.’s is 20%, and West Virginia’s is 10%. “Keeping taxes fair and reasonable allows legal operators to offer competitive pricing and also to reinvest in the market.” “States have recognized that the tax rate needs to strike a balance between generating adequate revenue for the state while allowing operators to compete effectively with the robust offshore market,” Koch told CNS. Sarah Koch, senior director of legal and government affairs for Draftkings, told CNS that Draftkings does not recommend Maryland taxes any more than 15% on sports betting revenue in order to compete with the illegal market.

Only two states have a mobile wagering tax rate of more than 15%, while 9 states have a tax rate of 15% or less. Low taxes are key to competing with illegal sportsbooks, which take in an estimated $2 billion in wagers from Maryland each year, according to the Lottery and Gaming Control Agency and Oxford Economics. The bill establishes a 15 percent tax on sports betting revenue, which jumps to 17.5 percent on annual mobile wager revenue above $5 million. “We can’t just act like we’re starting from zero to equal when it comes to these new industries.” “Historically, in so many economic industries, there’s been exclusion - even in new fields where the economic opportunities are wildly anticipated - cannabis being one of them,” he told CNS. Malik Edwards co-founded Bet on Black LLC in response to the approval of legalized sports betting to advocate for equal opportunity in the industry.Įdwards told CNS he is pleased with the potential opportunity for minority business through Class B and mobile licenses, but proposes that these businesses are better identified early on in the application process, along with increasing the number of distributed licenses. The bill would establish that the state conducts studies through a variety of agencies that determines whether minority- and women-owned businesses are at a disadvantage in the sports betting industry and what can legally be done to better promote equity, specifically in the distribution of licenses. Politicians and business leaders noted during the committee hearings and workgroups that none of the original 15 businesses licensed to sell medicinal marijuana in Maryland were run by African Americans.

Director of surveillance rocky gap casino