If the current sports betting bill is passed, Paddy Power-Befair is expected to be a
. But the sportsbook giant is concerned whether or not doing business in the United States will be financially viable. The states and leagues want a cut -- a big one -- but someone needs to run the whole operation and that someone isn't going to do it if there isn't worthwhile profits to be had.
"With a higher tax rate, that money comes out of our marketing, which is going to be very important in bringing people to bet onshore," says Levin. "If there are different rules in every state in terms of different rates, markets and bets you can offer, that just becomes overhead in cost that will slow down getting rid of illegal markets."