DraftKings CEO Jason Robins might have believed that raising fees would create a new revenue stream, but instead, it appears to be a misguided strategy.
States like New York and New Jersey highlight the financial stakes in the online gambling fight, with their aggressive tax rates yielding substantial revenue.
If DraftKings' fee increase was a bluff, it reflects a miscalculation of their standing in a competitive environment and the political implications.
In his attempt to rally the industry against high tax rates, Robins may have underestimated market dynamics and the backlash from consumers.
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