Casey Gonzales’ Post

Name: Casey Gonzales on LinkedIn: #sportsbetting #gamingindustry #taxhikes #osb #cdcgaming
Uploaded: 2024-06-04T13:30:08.983Z
Channel: Casey Gonzales

Casey Gonzales

Host/Founder @ The CDC Gaming Show | Gaming Industry Trends and Analysis

5mo

📈 Industry Insight 📈 As the online sports betting (OSB) landscape continues to evolve, analysts predict more tax hikes on the horizon. These changes could significantly impact operators and bettors alike. Stay ahead of the curve and understand what this means for the future of sports betting. Subscribe to us on YouTube at The CDC Gaming Show. #SportsBetting #GamingIndustry #TaxHikes #OSB #CDCGaming

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So it looks like Illinois has decided to up the ante on OSB taxes. And according to Dutch bank analyst Carlos Santorelli, that's just the tip of the iceberg. Here's the breakdown. Illinois new tax rates ranged from 20% on revenues up to 30 million to a whopping 40% on anything over 200 million. As we speak, this bill is headed to the Illinois House representatives and then on to the governor, who break check is in for all these hikes. Santorelli thinks it's a done deal, but not everyone's thrilled. The sports betting alliance, Jimmy Kudo. Called it an extremely disappointing decision, but Sasha Raley's got a different tape. He says the smaller operators won't be hit too hard, but the big fish like FanDuel and DraftKings, while they're looking at major tax hikes. Vandal, for instance, will see their tax bill jump from 67. 9 million to a whopping 149.5 million. Interestingly, Santarelli also debunked the idea that higher tax rates will worsen the odds for players. He pointed out that New York, with a 50% tax rate, has the same hold percentage as Michigan with only a 5% rate.

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