Maryland lawmakers reject Moore’s sports betting tax hike
Maryland lawmakers have rejected Gov. Wes Moore’s plan to double the state’s online sports betting tax, choosing a smaller increase instead.At the beginning of 2025, the...
Maryland governor proposes sports betting tax hike
Maryland Governor Wes Moore has proposed to raise the gaming table tax from 20% to 25% and double the sports wagering tax from 15% to 30%.
With this proposal, the state aims to address a 3 billion budget deficit. If approved, the increased betting tax is expected to boost state revenue from $7.5 million in 2025 to $95.4 million in 2026.
Gov. Moore said:
“By prioritising economic growth, modernizing government, and making taxes simpler, fairer, and for the vast majority of Marylanders, lower, we will weather this storm and emerge stronger. I look forward to partnering with the Maryland General Assembly to tackle this historic budget crisis and set Maryland on a path of sustainable economic growth.”
Secretary of Budget and Management Helene Grady supports the proposed sports betting tax hike, highlighting that neighboring states like Pennsylvania and New York have even higher rates at 36% and over 50%, respectively.
More US states increase sports betting taxes
Maryland’s plan to increase the taxes comes after a similar move from Ohio and Illinois. However, after the announcement, US leading betting operator DraftKings’ shares fell by 5.2%. Moreover, Penn Entertainment, which operates ESPN Bet, saw a decline of 2.4%. The tax strategy shows Maryland’s urgent need to close its budget gap while aligning its gambling tax rates with regional standards.
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Maryland Regulator, Maryland Lottery and Gaming has released a list to help residents distinguish between legal and illegal iGaming platforms in the state.Currently,...
