Congress first passed into law a wagering excise tax in 195. It imposed a 10% tax on sports betting revenues and a $50 “occupational stamp” additionally for people employed in bookmaking.
If that sounds hostile to legal Nevada sportsbooks — the only ones out there at the time — they clearly meant it. This was according to research by Sports Betting Community Limited (SBC) and the Gaming Law Society of the Boyd School of Law at the University of Nevada Las Vegas.
Furthermore, the organizers of a recent SBC-hosted webinar titled “Is it Time for Sports Betting’s Federal Excise Tax to Go?” – and all three panelists answered.