ALBANY, N.Y. (CBSNewYork) — New York state gambling regulators have approved the first licenses for online sports betting.
According to The Wall Street Journal, nine operators have been approved, including companies like FanDuel and DraftKings.
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The companies’ revenue will be taxed at 51% — one of the highest among states that allow sports betting.
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That’s expected to generate about $482 million in annual tax revenue.
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The state previously only allowed in-person betting on sporting events.
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