Wall Street is left wondering if other states will follow Illinois’ lead and try and plug their budget deficits by either adopting or increasing online sports gambling taxes. Both chambers of Illinois’ state legislature passed a budget that includes a tax of 25 cents per wager on the first 20 million online sports bets made each fiscal year, rising to 50 cents per bet after.
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
Killing the golden goose
A nice little lesson on how taxes have effects beyond the taxpayer.