In a 15-minute video message played at the event, Titus reiterated her support for repealing the federal excise tax on sports betting and also laid out five recommendations for sports organizations to combat sports betting issues within professional sports.
Federal excise tax on betting handle
Titus, who co-chairs the Congressional Gaming Caucus, has been an opponent of the federal excise tax on sports wagers for over a decade. Currently, a sports betting operator is required to pay a 0.25% tax on its total sports betting handle.
In her video message, she said that the tax “serves no dedicated purpose” and instead “penalizes” the regulated industry. She added the tax “empowers illegal operators” as they can attract customers by offering better odds due to not paying the tax.
Titus has put forth numerous bills over the past decade to repeal the fe..
