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How States Tax Sports Betting: A Comparative Analysis

Withum

When it comes to sports betting, taxes play a crucial role in shaping the industry. In May 2018, the Supreme Court invalidated The Professional and Amateur Sports Protection Act (PASPA), a federal law enacted in 1992 restricting sports betting in most states. The state levies a tax rate of 36% on sports betting revenue.

Sports 59
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Gaming Platform DraftKings Partners With InComm Payments For Retail Gift Cards

PYMNTS

Digital sports entertainment and gaming industry platform DraftKings — known for its top-rated daily fantasy sports and mobile sports betting apps — today announced an agreement with InComm Payments , a global leading payments technology company, to launch an industry-first retail gift card. .

Gaming 92
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A Tale of Two Pitchers

Withum

It was the best of times; it was the worst of times for New York Met Fans. This article is not a discussion of whether the Mets have improved their rotation but a discussion of how the new teams affect the tax situations of the ace pitchers. A baseball season consists of 162 games, with an equal amount played home and away.

Texas 122
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Fauci Encourages Return Of Sports, With Caution

PYMNTS

There’s no question Dr. Anthony Fauci’s first pitch at the Washington Nationals’ season opener Thursday night against the New York Yankees was wild. Fauci said when news broke that Washington Nationals left-fielder Juan Soto tested positive for the virus, he never considered skipping the game. What would be the danger?”

Sports 67
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Fantasy Sports Get A Legal Go-Ahead In New York State

PYMNTS

The New York legislature has given a thumbs-up to fantasy sports, passing a bill early Saturday (June 18) that explicitly legalizes and regulates fantasy sports betting in New York. It remains uncertain at this time if New York Governor Andrew Cuomo will sign the bill.

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NY’s Cuomo Embraces Online Gambling; Shows Inroads Amid Pandemic

PYMNTS

Bet on New York emerging a bit more flush from the pandemic. OK, actually, you'll be able to be bet on sporting events that way.). New York will join the pantheon of states that have legalized mobile sports betting, per a proposal by Gov. Andrew Cuomo released Wednesday (Jan. As tallied by lineups.com.

Gambling 107
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Uber Of X: Rent-A-Ref, Sports Officials For Any Game Or Tournament

PYMNTS

Perhaps the most overlooked person in any sport is the most important one: the referee. From youth sports to adult after-work leagues, the industry is growing, and according to Rent-A-Ref CEO Michael Radchuk, there is a shortage of referees. That’s why, in March 2016, he founded the “Uber of Referees” — Rent-A-Ref.

Sports 70