High taxes on online sportsbooks could be fueling the illegal market A consumer policy institute encourages state lawmakers to stop raising online sports betting taxes With legal sports betting booming in the United States, many state lawmakers continue to seek a larger piece of the pie through higher taxes. State governments’ seemingly never-ending tax hikes on legal sports betting could be driving some consumers back to the black market, so says a prominent consumer research institute. FanDuel sports betting advertisements are seen in New York City’s Penn Station ahead of the Super Bowl in January 2024. A consumer advocacy group opines that high state taxes are driving some online sports bettors back to the illegal market. (Image: Shutterstock) In an op-ed published in The Hill, Justin Leventhal, a senior economist at the American Consumer Institute, writes that state lawmakers’ high tax policies on online sportsbooks are rigging the odds against consumers. He justifies that the many regulated sportsbooks in the…Â Read More
Category: Opinion, American Consumer Institute, Handle, Illinois, Louisiana, New Jersey, online sports betting, online sportsbook, sports betting, taxesÂ
Source: Casino.org
