The WAGER Act (Withdrawing Arduous Gaming Excise Rates Act) would eliminate the federal excise tax on sports betting wagers that are legal under state law or Native American tribal gaming compacts. Currently, the federal government taxes authorized wagers through an excise tax, but this bill would create an exemption specifically for sports betting, allowing bettors and sportsbooks to avoid this federal tax. The bill affects anyone who places sports bets in states where gambling is legal, as well as sportsbooks and tribal gaming operations that offer legal sports betting. The tax exemption would take effect immediately upon the bill's enactment and apply to all wagers placed after that date. The legislation does not specify any funding amounts or sunset dates, making the exemption permanent unless Congress takes future action to change it.
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