Illinois Lawmakers and Sportsbooks Engage in Intense Standoff
Hear Ye, Hear Ye!
Sports Betting's Tax Headache: A P от the Illinois Chest
(Image by GPA Photo Archive / Conal Gallagher, CC BY 2.0 via Wikimedia Commons)
The Lowdown
- Sports Betting Tax: Illinois sticks a tidy tax on every wager you place on sports
- FanDuel's Fresh Fee: The gambling titan announces a new fee of a half-buck on every bet in the state
- DraftKings Doubles Down: They're soon following suit, we reckon
Get the inside scoop on the US online casino biz straight from the horse's mouth, with none other than Michael Savio. He's been trawling this industry since his Vegas days and has even got a knack for online casino reviews. He's a name you can trust! Check out his latest articles at casinos.com.
All Reviews by Michael Savio - https://x.com/g00sefactory - Michael Savio
Bonus Rounds
Dive Deeper:
- FanDuel's Surcharge Shenanigans: Illinois' sports betting tax is a heavy $0.25 on the first 20 million bets, rising to $0.50 per bet thereafter[5]. FanDuel's latest move involves passing these costs on to bettors through a surcharge of half a buck on every wager[1].
- DraftKings Tag Team: Seeing FanDuel's move, DraftKings is jumping on the bandwagon by imposing a similar surcharge. The first 20 million mobile bets face a $0.25 charge, and all subsequent ones will soon carry the full $0.50 surcharge[2][3].
These surcharges are a crafty way for both companies to makesure they don't feel the pinch of the new tax structure that's making their operations costlier[3]. It's all about adapting to regulatory changes to keep the chips rolling!
In light of the increasing sports betting tax in Illinois, FanDuel has implemented a surcharge of half a dollar on every bet within the state, paving the way for DraftKings to follow suit with a similar surcharge on their mobile bets. This tactic allows these online casinos to manage the increased costs from the new tax structure.
