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DraftKings Adds Tax on Winnings After First Profitable Quarter

Aug 2, 2024

DraftKings announced several big changes at the end of the week on the coattails of its first profitable quarter as a public company.

The sportsbook will become the first to tax U.S. bettors on their winnings in states that have a tax rate for betting operators above 20%. Illinois, New York, Pennsylvania, and Vermont are among the states impacted, with users getting charged a fee around 3% to 5% on winning bets starting next year.

Source: Front Office Sports

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