Lose a bet and be put to pay taxes? Some gamblers are outraged by the new bill
Bettors may have to pay taxes on income they never received because of a last-minute tax law that caps gamblers’ loss deductions at 90%. Professional sports bettors, who already operate on extremely thin margins, could be devastated by the change, industry experts warn. A few phrases sneaked into the 940-page tax measure passed by Congress […]
California Attorney General Says Daily Fantasy Sports Are Illegal
The California AG’s 33-page opinion As anticipated, Rob Bonta states that the California penal law forbids daily fantasy sports activities, such as pick’em and draft-style contests. According to the opinion, “numerous” public opinions on both sides of the issue were received and taken into consideration. According to the viewpoint, “daily fantasy sports games allow players […]
Rhode Island’s iGaming Revenue Increased by 113.5% Year-on-year in May
In May, Rhode Island’s igaming industry generated $4.8 million, a 113.5% year-over-year increase in revenue. Slot machines led the way with $129.1 million in total bets, which fueled discussion about access and age restrictions. Net gaming revenue increased from US$2.3 million to US$4.8 million in May, representing a 113.5% year-over-year growth in Rhode Island’s igaming […]
Betrivers is Testing Their Product for the Upcoming Launch of Multi-state Poker
BetRivers Poker is expected to receive full approval by Thursday after entering a soft launch phase to join the Multi-State Internet Gaming Agreement. It now supports pooled poker liquidity, making it the third operator in Pennsylvania to do so. On Tuesday, the Pennsylvania Gaming Control Board (PGCB) verified with PlayPennsylvania that BetRivers Poker is one […]
Fanduel Launches a New Manhattan Headquarters as Senator Addabbo Renews His Quest for Online Casinos
Supported by government representatives and business titans, FanDuel has taken a significant step in its ongoing expansion within the New York online gambling market by opening a new 36,000-square-foot office in Manhattan’s Flatiron District. In an attempt to keep funding the Empire State’s online gambling industry, US sports betting behemoth FanDuel launched its new Manhattan […]
Massachusetts Joint Committee Holds First Online Casino Hearing
At a hearing on legalizing online casinos, Massachusetts lawmakers covered topics such as possible tax income, the advantages of regulation, worries about gambling addiction, and the effects on land-based casinos. FanDuel and DraftKings backed the proposal. Earlier this week, the first hearing on legislation pertaining to internet casinos was held by a joint committee of […]
Sports Betting and Division I Governance May Be Redefined at the NCAA’s June Meetings
The NCAA Division I Council meets June 24–25 to discuss lifting the pro sports betting ban and a proposed governance overhaul that could give the Power Four up to 65% voting control in key decisions. Several urgent issues may be on the agenda when the NCAA Division I Council convenes later this month. The 40-member […]
Massachusetts Joint Committee Prepares for Online Casino Discussion
Massachusetts is moving toward legalizing online casinos as lawmakers prepare to review two key bills on June 23. The proposals aim to expand gaming options and grant regulatory authority to the Gaming Commission. Next week, Massachusetts lawmakers will start talking about internet casinos. The Joint Committee on Consumer Protection and Professional Licensure has set a […]
Wyoming Lawmakers Move to Increase State’s Share of Gambling Revenue
In an effort to boost state revenue, lawmakers in Wyoming are thinking of doubling the 10% online sports betting tax to 20%. Reports that Wyoming lags behind other states in tax collection have prompted the proposed hike. Wyoming lawmakers pushed Thursday to take a bigger share of certain gambling income after finding that existing taxes […]
Virginia Sports Betting Handle Reached $609.7 Million in April, Despite Retail Losses
In April, $609.7 million was wagered on sports in Virginia, an 8.2% YoY increase. Retail lost almost $0.5M, while online platforms generated $56.6M in AGR. Taxes brought in $8.5 million for the state. According to figures supplied by the Virginia Lottery, Virginia gamblers wagered $609.7 million on sports in April, an 8.2% increase over the […]
