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But it’s not yet clear whether the new bill will actually become law. It is taxed in some states While some states are pursuing lower taxes to discourage the black market, others are pursuing higher tax rates in order to maximize the revenues of the state. In addition, mobile wagering may be a way to increase revenues. While a federal tax on sports betting is unworkable, many states are considering legislation that would allow operators to deduct federal taxes from their gross gaming revenue. This would increase the chances of a vibrant sports betting and gambling market. It is popular among certain demographics While many of us may be familiar with sports gambling , few people actually consider it a viable source of income. According to a recent poll conducted by Arizona State University’s Global Sport Institute, sports betting and gambling are popular among certain demographic groups. The results indicated that sports betting is popular among young adults and a large portion of the voting age population. Furthermore, fewer than half of US sports bettors are racial minorities, while a higher percentage of white people bet on sports than other races.
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