DraftKings Reverses Decision to Charge Winnings Surcharge in New York
Overview
DraftKings has reversed its decision to impose a surcharge on winnings for New York bettors, following backlash from customers and competitors.
The company announced the reversal on Wednesday, August 13th, just hours after its major competitor, FanDuel, announced that it had no plans to implement a similar surcharge.
Reason for Reversal
According to DraftKings CEO Jason Robins, the company's decision to reverse the surcharge was based on feedback from customers and a desire to remain competitive in the New York market.
Robins also stated that the surcharge was intended to offset the high tax rates imposed on sports betting winnings in New York, but that the company had heard concerns from customers that it was unfair.
Impact on New York Bettors
The reversal of the surcharge is a major victory for New York bettors, who will now be able to keep all of their winnings without having to pay an additional fee.
The move is also likely to benefit DraftKings, as it will help the company to retain customers and compete with FanDuel in the New York market.
Conclusion
DraftKings' decision to reverse the winnings surcharge is a positive development for New York bettors and the sports betting industry as a whole.
The move shows that companies are listening to customers and are willing to make changes to their policies in response to feedback.
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