The WAGER Act would amend federal tax law to exempt sports betting from the existing excise tax on authorized wagers. Currently, the federal government taxes wagers at a certain rate, but this bill would remove that tax specifically for sports bets that are legal under state law or approved tribal gaming agreements. The legislation would apply to any sports betting wagers placed after the bill becomes law. The bill was introduced in the Senate in July 2024 and referred to the Committee on Finance. This change would primarily benefit the sports betting industry and states that have legalized sports gambling by reducing the federal tax burden on these activities.
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