New York State Gambling Regulators Approve Nine Mobile Sports Betting Operators – The Wall Street Journal

New York state gambling regulators approved online sports-betting licenses Monday for nine operators including FanDuel Group, DraftKings Inc. and BetMGM to operate in the new market.

The companies’ sports-betting revenue would be taxed at 51%, one of the highest among states where sports wagering is legal, said regulators. Still, New York’s huge population represents a potentially lucrative mobile betting market for gambling companies. New York has estimated that mobile gambling will eventually generate about $482 million in annual tax revenue from a $1 billion sports wagering market.

Leave a comment

Your email address will not be published. Required fields are marked *