New York lawmakers make clear that sports betting’s 51% tax rate is here to stay

New York lawmakers make clear that sports betting’s 51% tax rate is here to stay

Article brief provided by PlayNY
  • Grant Lucas, PlayNY
March 28, 2023 7:55 PM
  • Grant Lucas, PlayNY

For over a year, from the rulemaking process for online sports betting in New York to the Empire State becoming the top industry in the country, sportsbooks have clamored about the sky-high tax rate on the industry.

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While legal efforts have attempted to lower the 51% rate, each attempt fell short of passage. Now, lawmakers who once spearheaded those legislative pushes are now changing their stances:

The NY sports betting tax rate is here to stay.

“That’s not going to change,” Assemb. Gary Pretlow told PlayUSA. “It’s not going to change ever, as far as I know. I can’t see it changing. It’s going to stay at 51%.”