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New NYS Law involving 5% surcharge to ADW's
I recall hearing about a new law that is to go in effect 1/1/2014 regarding a 5% surcharge being charged to out of state ADW's taking bets on NY races...anyone know more about this? .. any updates?
Very likely to affect rebates. Edit Just found the following article from drf from back in August http://www.drf.com/news/new-york-add...tate-companies |
At least it is only for New York residents. Seems like a push to get people to NYRA.
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This is going to hurt... one alternative may be to use an out of state address with your ADW site. Talked with people from NHPlay..for $350 a year one can apparently have an LLC registered in Delaware with a Delaware address
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The law calls the 5 percent fee a “market-origin fee,” and it will be applied to any wager made by a New York customer, regardless of whether the customer is betting on a race at a New York track or an out-of-state track.
Ouch |
So is XpressBet going to pass this cost on to me?
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AmWager/AmWest, Mutuels Online, are two ADW's that offer much better rebates...online or via phone |
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