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📺 This week’s gambling news finds amazing records for mobile sports betting in New York, even with an insane tax rate. Not to be outdone, Hawaii is now considering sports betting with an even higher tax rate! And in case you missed it, more sports betting has launched in Louisiana!
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▪️ 00:00 – Welcome to This Week in Gambling!
▪️ 00:29 – New York Mobile Sports Betting Numbers
▪️ 01:42 – New York Sports Betting Tax
▪️ 02:39 – Hawaii Sports Betting
▪️ 04:13 – Golden Buffalo Double Up Slot
▪️ 04:45 – Louisiana Sports Betting
▪️ 05:20 – End Tag
Gambling News from Hawaii:
Gambling in Hawaii could be a real thing if one politician gets his way. He wants Hawaii sports betting and introduced HB 1815 last week to do just that. In addition to allowing residents to bet on sports, the legislation says that “There shall be levied, assessed, and collected a tax of fifty-five percent on all winnings paid out to any person by a sports wagering provider. Yes, you read that correctly. A 55% tax. Initially, not everyone was happy about this as it appeared his 55% tax would be placed on the players. However, Mizuno was quick to clarify that the bill only aims to screw over the operators themselves, not those placing bets.
New York Mobile Sports Betting Banks:
It’s only been a few weeks since New York mobile sportsbooks launched, and as one of the largest potential gambling markets in America, there’s lots of money to be made… and that’s exactly what state politicians were hoping for. Now, in just a few weeks of operation, the New York market is living up to expectations by bringing in just over $1.1 billion in sports betting revenue. These numbers mean that the operators generated over $91 million in profits in just over three weeks of operation. And at a tax rate of 51%, New York took in nearly $47 million.
Louisiana Mobile Sports Betting:
January 28th was the big day for Louisiana mobile sports betting, as six big-time operators officially go live in the state! the activity was originally legalized way back in November of 2020, but delays related to tax laws and the pandemic pushed the launch date back until now.
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3 thoughts on “Gambling News from Hawaii, Louisiana, & New York”
So is this a new trend? That states will extort as much as they can from operators in ridiculously high taxes? And if so, what can operators do?
0:05 Sorry Todd, but I was kind of distracted by something going up the other side of the escalator. Two of them, actually.
Wow, they may bring gambling to Hawaii! That's wild since they have been so against it, I honestly couldn't believe that NY allowed the online sports betting. I feel that online slots aren't far behind as once they get a taste of the revenue they're appetite will want more.
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