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Ending Federal Excise Tax on Legal Sports Betting Wagers.

This bill eliminates the federal excise tax currently imposed on legal sports betting. If enacted, citizens placing sports wagers legally under state or tribal law will no longer be subject to this specific federal tax. This change potentially lowers costs for bettors and simplifies operations for legal betting providers.
Key points
Removes the federal excise tax applied to legal sports wagers.
The change only applies to bets authorized by state law or tribal compacts.
Impacts personal finances by potentially increasing the net winnings for bettors.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_S_4872
Sponsor: Sen. Cortez Masto, Catherine [D-NV]
Process start date: 2024-07-31
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Summarized by: gemini-flash-latest
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

WAGER Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_4872.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2024-07-31.

What are the main provisions?

Key points include:

  • Removes the federal excise tax applied to legal sports wagers.
  • The change only applies to bets authorized by state law or tribal compacts.
  • Impacts personal finances by potentially increasing the net winnings for bettors.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Cortez Masto, Catherine [D-NV].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Taxes Economy