S 2773
WAGER Act
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Bill overview
The WAGER Act aims to change how sports betting is taxed by the federal government. Specifically, it proposes to exempt sports wagers from the existing excise tax on authorized wagers, provided that the bets are legal under state or tribal gaming compacts. This would mean that sports betting revenue generated from states with legal sports betting would not be subject to this tax. The bill clarifies that the exemption applies to wagers on sporting events.
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