BetRivers has publicly called out DraftKings' pending winning bet surcharge, drawing battle lines in what could be an existential debate about the industry's future.BetRivers’ parent company reiterated Monday it has no plans for a winning bet surcharge, taking a not-so-subtle shot at DraftKings, its much larger rival.
Sportsbooks have argued in statehouses nationwide for a “fair” rate between 10-20% of gross gaming revenue. Only the four aforementioned states have rates above 20%. DraftKings said there were no plans to extend the fee to additional states. The rapid expansion of new sports betting jurisdictions initially helped increase sportsbooks’ year-over-year revenues, but that financial lifeline has dried up; no state has approved legal sports betting so far this year. Facing pressure from investors after hundreds of millions of dollars in losses, publicly traded companies such as DraftKings – and Rush Street – are looking for new ways to turn profits.