When sports betting in New York was passed with a 51% tax rate, we knew it would lead to problems. Now, both DraftKings and FanDuel New York are saying they could abandon the market if that tax rate isn’t lowered to something more realistic. The CEO of DraftKings, Jason Robins, described the situation as “unsustainable” while speaking at a recent joint legislative hearing. He pointed out that while the tax rate is already the highest in the nation, it’s even worse than it appears since fees and licensing make the state’s effective tax more than 70%. The President of FanDuel,…

DraftKings New York Sports Betting Deal Ahead is of the Rush New York sports betting has not been passed yet, but companies are already jockeying for position. The latest is daily fantasy sports giant DraftKings Inc. As part of its expansion into traditional sports wagering, the company says it has agreed to operate the sports book at Del Lago Resort & Casino in Waterloo, New York. The agreement also allows DraftKings to a launch state-wide online and mobile app once the laws allow. Sports gambling is expected to be a second act of sorts for daily fantasy companies DraftKings and…