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I think they are a flogging a dead horse when NY State had such a huge revenue last year, and the state looks like geniuses for the massive influx of money going in to education there already.
Books will need to "saboutage" the market by giving bad odds and pushing people back to offshore to get NY regulators to go back on the huge 50% tax rate the books signed on for.
50% tax is "stupid" and can't work if the state expects books to be competitive at all. But NY would not have that rate if operators like Draftkings and Fanduel did not legitimize it by signing..Comment -
Crazy tax rate
If they worsen odds, they'll make even less money. The only action they'll be getting would be from the $10 bettors who don't know better.Comment -
NY also tax based on freeplays awarded as well. So they cost the books out of pocket on top of any potential player winnings. Which pretty much makes it untenable to keep offering them in the state ongoing.
Something will need to bend to accommodate a sustainable industry..Comment -
I know the books wanted in on NY as a huge market but I thought and still think it was foolish for them to sign on at this rate in the first place.
Can't really make money this way.[quote=jjgold;5683305]I win again like usual
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[quote=Whippit;7921056]miami won't lose a single eastern conference game through end of season[/quote]Comment -
I have been seeing -140 on both sides of live wagering at Fanduel Ontario. Fuk that noiseComment -
Makes you wonder what the DOJ doesn’t go after offshore and close them down like they did in 2011 with Online Poker sites to get some of that offshore money to go to the legal sports books. It will happen eventually probably. Just of matter when they decide to do it.Comment -
system needs to stop billing free plays and promotions. some states do this.
New York is trying to get the high revenue rate that states with lottery monopolies receive.
some states even own, or owned their own casinos, or lease their operations.
So, conceivably the states that have many decades of casino and lottery experience could side-step
corporate books altogether and just keep 100% of revenues, that is a legitimate threat in some cases.
It really is. States could run the whole show, and just contract-out what operations they can't handle.
Draftkings is an exceptionally poorly run company that killed its own stock because of greed. When these co's say they are losing - that doesn't mean they are losing on a per diem basis it means when you add up all their fat living and handouts to corporate executives, then they struggle.. it's mostly crocodile tears.
Last edited by Snowball; 02-03-23, 10:59 AM.Comment -
You can blame the greedy legislators who wrote tax bills and people behind the scenes who run things who rake in excessive profits for providing nothing of value to us consumers or peasants as they would refer to us.Comment -
They need the revenue because we're in end-stage capitalism. The bankers and their mega-corps killed the little guy
and the little guy has to go on welfare. This was all predicted by the best minds.
It's why the US overthrows all governments around the world that held control over the objects of necessity like utilities, energy, banks, money... Iran, Iraq, Libya, Venezuela, South Korea before 1980, etc. It's why they overthrew Ukraine in 2014 and are pushing us to fight Russia and China so they can bilk the whole world dry.
Not going to hear this stuff on Fox or CNN. The left and right claw of the same beast.Comment -
Why do all Sportbooks need to make money? In order to get the best ones offering services to gamblers you got to let the bad ones fail and go out of business.
So if a car manufacturer makes shitty cars all the time the state has to bail them out so they can keep making shitty cars? How will then innovation happen? If Tesla didn't build electric cars do you think Ford and VW would have ever tried to build EVs on their own?Comment -
The sooner places like NY implode, the better.Comment -
NY gambling corporations to make ends meet can just keep advertising the hell out of playing parlays and how great they are for big payoffs,...sucker bets.Comment -
they say others are chomping to get in NY and have a plan on how to make money. fanduel and dk need to adjust their business plan some or suffer. tough shit for them.Comment -
i am all for more books. more competition.Comment -
In Ohio the tax rate is 10%...But when January reciepts came in and they saw the made more money than New York State which has 7x more people... Te Governor wants to raise it to 20%Comment -
I know right... The Governor ask for the raise in the upcoming budget... Ohio sports betting so far been great with so. Many bonuses and operators. If this get approved.. I feel some operators may leave the marketComment -
I live in NY, your all spot on, terrible what they’re doing!Comment -
They are already giving poorer odds in NY. Some BetRivers moneylines are higher juice in NY than what they offer in other states. You can blame Cuomo, good riddance.Comment -
If the State has any sense they will work with the Operators. There’s a chance NY won’t because it’s run by a far left lunatic, with no common sense at all - Kathy Hochul.
Bookmaker pays just as fast as the NY State books. Simple the best offshore book. Just a good idea to keep payouts less than $9500 if you’re a big player.Comment -
Maybe they should worry about the people in East Palestine and put the extra gambling tax on the back burner for a while.Comment -
have you seen the handle in NY?Comment -
I can't tell who fukked it up worse...Ontario or NY?
"I'm from the government & I'm here to help"
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