New guidance from the Internal Revenue Service says that the federal excise tax on sports betting also applies to daily fantasy sports. The excise tax, sports betting and DFS The excise tax is applied as a tax of .25% of all sports wagers; as applied to DFS this would be each entry fee for a […] Read More
The future of regulated daily fantasy sports is very much in jeopardy in New York. The NY Supreme Court on Thursday upheld a decision from Acting Justice Gerald W. Connolly, who previously ruled DFS is unconstitutional in the state. In his 2018 decision, Connolly held that the state unlawfully expanded gambling in 2016 by classifying […] Read More
Citing trade secrets, SBTech is taking multiple parties to court to prevent the public from seeing its sports betting contract with the Oregon Lottery. Read More
Rhode Island has been slow to hit its stride with legal sports betting, despite its head start. The state which saw a $22.2 million handle in September has not seen that translate into significant revenue via the 51 percent tax that was imposed. While the small state may still eliminate potential hurdles to profit maximization […] Read More
Casino operator Delaware North is suing the company that was providing its sports betting platform in West Virginia, after it was forced to shut down all wagering last month. Read More