Close Menu
Nabka News
  • Home
  • News
  • Business
  • China
  • India
  • Pakistan
  • Political
  • Tech
  • Trend
  • USA
  • Sports

Subscribe to Updates

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

What's Hot

Made-in-China brain tech sparks hope for children with autism-Xinhua

June 13, 2025

Pakistan extends condolences to India

June 13, 2025

Cummins, Carey shine as Aussies take upper hand in WTC final – Sport

June 13, 2025
Facebook X (Twitter) Instagram
  • Home
  • About NabkaNews
  • Advertise with NabkaNews
  • DMCA Policy
  • Privacy Policy
  • Terms of Use
  • Contact us
Facebook X (Twitter) Instagram Pinterest Vimeo
Nabka News
  • Home
  • News
  • Business
  • China
  • India
  • Pakistan
  • Political
  • Tech
  • Trend
  • USA
  • Sports
Nabka News
Home » FanDuel adds 50-cent surcharge on Illinois bets to offset taxes
Business

FanDuel adds 50-cent surcharge on Illinois bets to offset taxes

i2wtcBy i2wtcJune 10, 2025No Comments3 Mins Read
Share Facebook Twitter Pinterest LinkedIn Tumblr Email WhatsApp Copy Link
Follow Us
Google News Flipboard Threads
Share
Facebook Twitter LinkedIn Pinterest Email Copy Link


FanDuel adds surcharge to wagers made in Illinois following new tax code

FanDuel is upping the ante in Illinois with a new 50-cent surcharge on all wagers, and DraftKings may be next.

Flutter-owned FanDuel is introducing the charge to mitigate the impact of new taxes that the state instituted with its new budget, which disproportionately affect the two leading sportsbooks.

The new tax is applied to each wager that a sportsbook accepts — 25 cents per bet for the first 20 million wagers, 50 cents per wager after that.

“Should the state reverse its decision at any point in the future, FanDuel will immediately remove the $0.50 transaction fee,” Flutter said in a press release.

DraftKings may be following suit. In a statement issued on Tuesday, a company spokesperson said, “DraftKings anticipates taking action and expects to share more information soon.”

Combined, FanDuel and DraftKings account for about 75% of the Illinois sports betting market.

Citizens gaming analyst Jordan Bender estimates the new transaction fee will translate to $79 million in new 2026 revenue for DraftKings, or 5.4% of its projected EBITDA for that year, and $86 million for FanDuel, about 2% of EBITDA.

The Illinois tax comes on top of a progressive tax passed last year, which leaves the most successful sportsbooks paying taxes at a rate of 40%. Before the change, they were paying at 15%.

When that tax bill passed, DraftKings initially said it would pass along the costs to consumers. After massive backlash, it reversed course.

Now FanDuel has picked up the gauntlet to manage the impact.

“It is important to recognize that there is an optimal level for gaming tax rates that enables operators to provide the best experience for customers, maximize market growth and maximize revenue for states over time. We are disappointed that the Illinois Transaction Fee will disproportionately impact lower wagering,” said Flutter Entertainment CEO Peter Jackson in a statement.

There are a number of other state legislatures considering raising their own tax rates, including New Jersey, Maryland, Massachusetts, Michigan and Pennsylvania.

Jackson said the tax disproportionately punishes the companies that have invested the most in growing the regulated market, adding the fee will motivate gamblers to head to unregulated operators who don’t pay taxes and don’t have the same consumer protection.

And he said, the tax most affects recreational customers who make small bets.

“It is important to recognize that there is an optimal level for gaming tax rates that enables operators to provide the best experience for customers, maximize market growth and maximize revenue for states over time,” he said.



Source link

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email WhatsApp Copy Link
i2wtc
  • Website

Related Posts

Business

What we know about first fatal Boeing Dreamliner crash

June 12, 2025
Business

Baby items get pricier, congressional report says

June 12, 2025
Business

Trump CFPB cuts reviewed by Fed inspector general

June 12, 2025
Business

Retail executives expect Trump to drop tariffs

June 12, 2025
Business

RFK Jr. names members of CDC vaccine committee after firings

June 12, 2025
Business

Boeing Dreamliner with 242 aboard crashes after takeoff in India

June 12, 2025
Add A Comment
Leave A Reply Cancel Reply

Top Posts

Made-in-China brain tech sparks hope for children with autism-Xinhua

June 13, 2025

House Republicans unveil aid bill for Israel, Ukraine ahead of weekend House vote

April 17, 2024

Prime Minister Johnson presses forward with Ukraine aid bill despite pressure from hardliners

April 17, 2024

Justin Verlander makes season debut against Nationals

April 17, 2024
Don't Miss

Trump says China’s Xi ‘hard to make a deal with’ amid trade dispute | Donald Trump News

By i2wtcJune 4, 20250

Growing strains in US-China relations over implementation of agreement to roll back tariffs and trade…

Donald Trump’s 50% steel and aluminium tariffs take effect | Business and Economy News

June 4, 2025

The Take: Why is Trump cracking down on Chinese students? | Education News

June 4, 2025

Chinese couple charged with smuggling toxic fungus into US | Science and Technology News

June 4, 2025

Subscribe to Updates

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

About Us
About Us

Welcome to NabkaNews, your go-to source for the latest updates and insights on technology, business, and news from around the world, with a focus on the USA, Pakistan, and India.

At NabkaNews, we understand the importance of staying informed in today’s fast-paced world. Our mission is to provide you with accurate, relevant, and engaging content that keeps you up-to-date with the latest developments in technology, business trends, and news events.

Facebook X (Twitter) Pinterest YouTube WhatsApp
Our Picks

Made-in-China brain tech sparks hope for children with autism-Xinhua

June 13, 2025

Pakistan extends condolences to India

June 13, 2025

Cummins, Carey shine as Aussies take upper hand in WTC final – Sport

June 13, 2025
Most Popular

US university lecturer speaks out about stabbing incident in China

June 12, 2024

Sanctions force Russian economy to turn to China

June 13, 2024

WADA responds to China doping allegations ahead of Tokyo Olympics

June 15, 2024
© 2025 nabkanews. Designed by nabkanews.
  • Home
  • About NabkaNews
  • Advertise with NabkaNews
  • DMCA Policy
  • Privacy Policy
  • Terms of Use
  • Contact us

Type above and press Enter to search. Press Esc to cancel.