Exempts sports betting from the tax on authorized wagers under the Internal Revenue Code of 1986.
The Withdrawing Arduous Gaming Excise Rates Act, also known as the WAGER Act, amends the Internal Revenue Code of 1986 to exempt sports betting from the tax on authorized wagers. This exemption applies to wagers that are not prohibited under state law or an approved Tribal-State gaming compact, and are placed with respect to any sporting event. The amendment takes effect for wagers placed after the enactment of this Act.
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