Sports betting and fantasy sports operators and players face a shifting landscape as states impose taxes on expanded gambling. More than 35 states and the District of Columbia have legalized some form of sports betting after the Supreme Court struck down a federal ban, imposing a 19% average tax rate on receipts. While some states still restrict betting to in-person formats, such as at a casino or sports book, 29 allow online betting, a frontier being pushed by casinos and other betting operators like FanDuel Group and DraftKings Inc. This patchwork approach forces tax practitioners to deal with issues such ...
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