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Feb 06
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AVOID
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Jason Robins
CEO, DraftKings
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Illinois recently passed a "fee per wager" (tax hike) on sports betting. High taxes are choking demand. When taxes rise, operators often have to offer worse odds or cut back on promotions to maintain margins, which drives customers away or reduces their activity. Since the tax change, the "handle" (total amount wagered) in Illinois has been declining every month. States may reverse course if tax revenue drops significantly, though this is politically difficult. |
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