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  • As states mull tax hikes, sportsbooks insist they’re paying their fair share


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As states mull tax hikes, sportsbooks insist they’re paying their fair share

Updated:2024-06-18 10:39    Views:98

America’s biggest sportsbook operators made a high-stakes gamble of their own in 2021, accepting a massive tax on their online revenue in New York — far higher than the rates that were becoming typical in other states — in exchange for access to the largest legal market in the country.

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That gamble is on the verge of costing the industry potentially billions of dollars.

New York’s sky-high 51 percent tax has allowed the state to collect a staggering $1.9 billion over just three years. Envious of that windfall, a few states are pursuing a much larger cut of the action than they currently receive, with more expected to follow.

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