LexisNexis has once again raised the bar for legal practitioners with a robust suite of new resources and tools in its Practical Guidance platform. The June 2025 updates span multiple practice areas, delivering...
Public Law No. 119-21, the One Big Beautiful Bill Act (OBBBA), represents the most comprehensive overhaul of the federal tax system since the Tax Cuts and Jobs Act of 2017 (TCJA). Enacted on July 4, 2025...
Restaurant leasing presents a unique blend of legal considerations, shaped by operational realities such as equipment needs, utility demands, and customer-facing enhancements. Review this checklist for...
In today’s deal-making space, environmental liabilities can be hidden landmines threatening post-closing value and operational integrity. Navigate the intricate terrain of M&A transactions where...
This practice note helps attorneys representing drug and medical device manufacturers advise their clients about liability risks associated with their products, by summarizing the legal landscape surrounding...
* The views expressed in externally authored materials linked or published on this site do not necessarily reflect the views of LexisNexis Legal & Professional.
As of July 2025, 38 U.S. states and the District of Columbia have legalized sports betting in some form—either online, in-person, or both. This expansion follows the Supreme Court's 2018 decision to overturn the previous federal ban on sports wagering, allowing individual states to regulate the activity. Virtually all states that have legalized sports betting impose taxes on the industry, although the tax structures and rates vary significantly. Most state taxes are applied to the gross gaming revenue (GGR) of sportsbooks—the total amount wagered minus winnings paid out. Some states also implement additional fees or taxes per wager. To illustrate, New York imposes a 51% tax on online sports betting revenue, which is one of the highest rates in the country. In contrast, Nevada maintains a relatively low tax rate of 6.75% on sports betting revenue while Tennessee imposes a 1.85% tax on the total amount wagered (handle), rather than on revenue.
Read now »
Related Content
Practical Guidance Updates Featuring the latest updates from your Practical Guidance account.
PRACTICAL GUIDANCE CUSTOMER EMAIL EDITION ON THE WEB
Experience results today with practical guidance, legal research, and data-driven insights—all in one place.Experience Lexis+