DraftKings CEO Jason Robins on Illinois sports betting tax

Regulatory Changes & Impact - Illinois legislature imposed a $050 per wager tax increase, described as "illconceived" [1][2] - The tax increase is set to take effect on September 1st [1] - The company was not warned about the tax increase, which was decided unexpectedly [2][3] Business Strategy & Consumer Behavior - The company intends to pass the $050 tax on to consumers [2] - The company anticipates the tax will drive consumers to illegal markets or encourage them to bet more [2] - The company hopes for public reaction that will lead to reconsideration of the tax [3] Financial Implications - The $050 per wager tax makes it unprofitable for the company to accept small bets (e g, $1, $050, $5, or $10) [2] - The company is implementing the tax pass-through to continue offering its product in Illinois [3]