When New York launched sports betting in February of 2022, the entire business swarmed, jockeying for position in an attempt to gain access to the biggest market in the United States.
Since then, sportsbooks have complained about the unrealistically high tax rate and the need to fix the market for its long-term success.
Add on top of that the tech bubble – which hasn’t quite burst – but certainly had a mini pop when Silicon Valley Bank ceased operations, and billions of dollars were missing.
That crunch has forced sportsbooks – who are still in their growing phases – to get out of debt and into the black as quickly as possible.
PointsBet Sportsbook has made its plans known – they will be sold.
