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America Counts: Stories Behind the Numbers
Legal Sports Betting a Growing Source of Tax Revenue for Many States
Legalized sports betting is a growing business in many U.S. states and the tax revenue it generates funds various state resources from roads and highways to public education, law enforcement and gambling addiction programs.
The Super Bowl just took place on February 11 but there are many more big sporting events on the roster this year from March Madness to the World Series. So just how much tax revenue and gross receipts come from sports betting in states where it?s legal?
The U.S. Census Bureau?s Quarterly Survey of State and Local Tax Revenue (QTAX) recently added sports betting (including pari-mutuels) to the extensive list of state and local tax revenue sources it already tracks.
In the third quarter of 2023, the most recent version of the QTAX, sports betting generated national state level sales tax and gross receipts of $505.96 million, up 20.5% from the same quarter a year before, but down from $571.48 million the second quarter of 2023.
Continue reading to learn more about our Quarterly Survey of State and Local Tax Revenue.?
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