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HB25-1311

Deductions for Net Sports Betting Proceeds

Concerning the deduction for free bets allowed for the purpose of calculating net sports betting proceeds.
Session:
2025 Regular Session
Subject:
Gaming, Lottery, & Racing
Bill Summary

As approved by voters in 2019, a tax of 10% is imposed on net sports betting proceeds. Under current law, for the purpose of calculating its net sports betting proceeds, a sports betting operator or internet sports betting operator is allowed to deduct all payments to players, all federal excise taxes paid, and a certain percentage of free bets placed by players. Beginning on September 1, 2025, the bill removes the deduction for all free bets placed.
(Note: This summary applies to this bill as introduced.)

Status

Introduced
Under Consideration

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Bill Text

Sponsors

Sponsor Type Legislators
Prime Sponsor

Rep. J. McCluskie, Rep. M. Soper
Sen. D. Roberts

Sponsor

Co-sponsor

The effective date for bills enacted without a safety clause is August 6, 2025, if the General Assembly adjourns sine die on May 7, 2025 (unless otherwise specified). Details

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