- Colorado sportsbooks report $3.4m net loss in September
- Aggressive bonusing dents state tax revenue in Pennsylvania
- Michigan, Virginia also offer promotional play deductions
As sportsbook operators spent record amounts in bonuses in September as part of an ongoing battle to gain market share, states that permit tax deductions for promotional play found themselves in the crossfire.
As operators offered juicy promotions at the beginning of the NFL season, Pennsylvania saw its lowest state tax haul from online sports-betting revenues since July 2019, bringing in about $413,000 in taxes despite record handle and the nation’s largest headline tax rate for a non-monopoly market.
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