- The majority of Wisconsin voters oppose legalizing online sports betting according to a recent Marquette Law School poll.
- A Missouri bill proposes a tax rate increase for operator revenue to offset promotional deductions.
- Sports Betting Alliance CEO, Joe Maloney, claims that Alabama is missing out on roughly $100 million annually without sports betting legalization.
MILWAUKEE – Online sports betting legalization faces voter opposition in Wisconsin, Missouri is already adding a new sports betting bill just months into having legal sports betting, and Alabama’s lack of legal sports betting could be costing them $100 million annually. Wisconsin voters revealed their opinion on legalizing online sports betting in a poll conducted by Marquette Law School.
According to the poll, “A majority of voters, 64%, oppose legalizing online sports betting in Wisconsin, while 34% are in favor. Opposition is bipartisan, with 61% of Republicans and 66% of Democrats opposed, as are 74% of independents. Seventy-one percent of those who attend religious services at least weekly are opposed while 62% of those who attend less often are opposed.”
The poll is the most extensive polling project in Wisconsin history, providing fair insight on Wisconsin online sports betting. Over in Missouri, a new sports betting bill aims to offset promotional deductions for MO sportsbook apps.
Missouri Sports Betting Tax Bill Adjusts Promo Deductions
Missouri’s operator-friendly business model translated to just $659,120 in tax dollars since launching online sports betting on December 1. That’s because their model allows unlimited promotional deductions, which will change under Rep. Jeff Knight’s HB 3533.
The bill proposes a 24% tax on operator revenue after paying out winnings, but before deductions from promotional costs. With Knight’s proposal, Missouri would’ve cashed in $37.8 million in taxes.
Alabama Missing Out On $100M Without Legal Sports Betting
According to Joe Maloney, CEO of Sports Betting Alliance, Alabama could be earning up to $100 million annually in legal Alabama sports betting tax revenue. He cited that North Carolina makes $150 million in annual sports betting tax revenue, but NC has double the population (10 mil vs 5.1 mil) of the Yellow Hammer State.
The argument stems from unregulated sports betting already occurring in the state, meaning Alabama is just missing out on tens of millions of dollars simply by not regulating and taxing the industry.
