The online sports betting tax rate will remain at 20% following a Senate discussion this afternoon on the state budget.
Sen. John F. Keenan (D-Norfolk/Plymouth) to the Senate’s FY 2025 Massachusetts budget to increase the state’s online sports betting tax rate from 20% to 51%, a 155% increase, to put the commonwealth in line with the most taxed sports betting states in the country.
His amendment was roundly rejected by his Senate colleagues.
Operators Should Pay Fair Share
The first year of online sports betting in Massachusetts, from March 2023 to April 2024, accounted for $135.7 million in tax revenues, Keenan said. At a 51% rate, the commonwealth could have brought in more than $346.12 million for the year.
It s a fair share for operators to pay…