DraftKings announced on Twitter that it has decided not to implement a gaming tax surcharge after receiving feedback from customers, reaffirming its commitment to providing the best value in the industry.
The proposed tax surcharge aimed to offset the increasing tax rates, especially in states like Illinois, where lawmakers suggest raising the tax rate from 15% to possibly 40% on operators.
If DraftKings had moved forward with the surcharge, it could have influenced other operators to adopt similar measures, increasing costs for bettors and affecting their potential profits.
With DraftKings facing increased competition from FanDuel and a declining stock price, industry analysts are left questioning how sports betting operators will respond to ongoing tax rate hikes.
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