Maryland has decided to raise its tax on mobile sports betting, implementing a new 20% tax on online sportsbooks. This move not only falls in line with increases seen in other states but also aims to provide essential funding for education and state initiatives.
Key Points
- The new tax rate on mobile sports betting has been set at 20%, up from the previous 15%.
- The increase was initially proposed by Gov. Wes Moore, who aimed for a 30% hike, but this was negotiated down.
- The tax revenue will support the Blueprint for Maryland’s Future Fund, focusing on educational initiatives.
- Only online betting is affected; in-person sports betting remains at its current rate.
- This tax hike aligns Maryland with similar initiatives in states like Ohio and Illinois.
Why should I read this?
If you’re keeping an eye on the gambling landscape or are simply curious about how tax shifts affect online betting, this article serves up the latest changes in Maryland. It’s all about understanding the broader implications for bettors and operators alike, especially as more states consider similar tax hikes. Save yourself the hassle of digging through the details; we’ve got you covered!
