{"id":327039,"date":"2024-08-05T09:50:41","date_gmt":"2024-08-05T14:50:41","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=327039"},"modified":"2024-08-05T09:58:37","modified_gmt":"2024-08-05T14:58:37","slug":"rsi-takes-shot-at-draftkings-says-no-surcharge","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/rsi-takes-shot-at-draftkings-says-no-surcharge\/","title":{"rendered":"Rush Street Interactive Takes Shot at DraftKings, Says No Surcharge"},"content":{"rendered":"

In a clear shot at rival DraftKings (NASDAQ: DKNG), Rush Street Interactive (NYSE: RSI) announced Monday it has no plans to implement a surcharge on sports wagers.<\/p>\n

\"Rush
A Rush Street Interactive advertisement. The company said it won’t follow DraftKings in implementing a surcharge on winning sports bets in high-tax states. (Image: X)<\/figcaption><\/figure>\n

Rush Street Interactive\u2019s proclamation arrived after DraftKings said last Thursday that it\u2019s planning to launch a small surcharge<\/a> on winning sports wagers placed by bettors in Illinois, New York, Pennsylvania, and Vermont. That levy goes into effect on Jan. 1, 2025. Of those four states, Rush Street operates in Illinois, New York, and Pennsylvania.<\/p>\n

As we put our customers first, it was an easy decision for us,\u201d said Rush Street Interactive CEO Richard Schwartz in a statement.<\/p><\/blockquote>\n

The gaming company billed the decision to eschew a surcharge as confirmation of its \u201ccustomer-centric policies.\u201d Chicago-based Rush Street Interactive operates BetRivers, PlaySugarhouse, and RushBet brands.<\/p>\n

DraftKings Surcharge Yet to Lure Copycats<\/h2>\n

In the wake of the DraftKings announcement, there\u2019s been considerable speculation among bettors and investors about whether or not other gaming companies would follow suit. While it\u2019s been just five days since DraftKings announced the scheme, it\u2019s still alone.<\/p>\n

\n

Rush Street Interactive is the first operator to confirm it won’t add a tax on winning bets, but some sports betting industry experts noted that with BetMGM having provided its first-half financial update<\/a> last week and making no mention of a surcharge, that company probably won\u2019t mimic the DraftKings plan because the July 29 report from BetMGM would have been the opportune time to tell investors that such a plan was in the offing.<\/p>\n<\/div>\n

Likewise, Caesars Entertainment (NASDAQ: CZR) reported second-quarter results last week, noting earnings before interest, taxes, depreciation, and amortization (EBITDA) at its digital unit surged, but that company made no mention of a surcharge.<\/p>\n

A test of the surcharge gambit could arrive on August 13 when FanDuel parent Flutter Entertainment<\/a> (NYSE: FLUT) reports second-quarter numbers. By market share, FanDuel is the lone credible competitor to DraftKings, but as of yet, Flutter hasn\u2019t publicly commented on the surcharge issue.<\/p>\n

Rush Street Interactive Could Provide Surcharge Template<\/h2>\n

DraftKings and FanDuel have formed a nearly impenetrable duopoly in the US sports wagering space \u2013 one born largely out of superior technology and strong brand recognition. However, those traits don\u2019t guarantee DraftKings clients in the aforementioned states will stick around and pay an added tax on their winning bets.<\/p>\n

It\u2019s possible that rivals will let DraftKings take its chances and deal with the fallout from the surcharge plan, and that RSI may have just provided the playbook to foster some goodwill among bettors who are now motivated to wager elsewhere<\/strong>.<\/p>\n

\u201cRSI remains committed to maintaining its leadership position in the industry by continuously prioritizing the needs and preferences of its players. We believe that RSI\u2019s focus on customer satisfaction, coupled with its innovative rewards and loyalty programs, sets a benchmark for excellence in the online gaming industry,\u201d concluded Schwartz.<\/p>\n","protected":false},"excerpt":{"rendered":"

In a clear shot at rival DraftKings (NASDAQ: DKNG), Rush Street Interactive (NYSE: RSI) announced Monday it has no plans to implement a surcharge on sports wagers. Rush Street Interactive\u2019s proclamation arrived after DraftKings said last Thursday that it\u2019s planning to launch a small surcharge on winning sports wagers placed by bettors in Illinois, New […]<\/p>\n","protected":false},"author":46,"featured_media":222477,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,13592,1074],"tags":[81903,81895,80968],"acf":[],"yoast_head":"\nRSI Takes Shot at DraftKings, Says No Surcharge<\/title>\n<meta name=\"description\" content=\"Rush Street Interactive Takes Shot at DraftKings, Says No Surcharge.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/rsi-takes-shot-at-draftkings-says-no-surcharge\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RSI Takes Shot at DraftKings, Says No Surcharge\" \/>\n<meta property=\"og:description\" content=\"Rush Street Interactive Takes Shot at DraftKings, Says No Surcharge.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/rsi-takes-shot-at-draftkings-says-no-surcharge\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2024-08-05T14:50:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-08-05T14:58:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/07\/RSI.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1602\" \/>\n\t<meta property=\"og:image:height\" content=\"1062\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/rsi-takes-shot-at-draftkings-says-no-surcharge\/\",\"url\":\"https:\/\/www.casino.org\/news\/rsi-takes-shot-at-draftkings-says-no-surcharge\/\",\"name\":\"RSI Takes Shot at DraftKings, Says No Surcharge\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/rsi-takes-shot-at-draftkings-says-no-surcharge\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/rsi-takes-shot-at-draftkings-says-no-surcharge\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/07\/RSI.jpg\",\"datePublished\":\"2024-08-05T14:50:41+00:00\",\"dateModified\":\"2024-08-05T14:58:37+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Rush Street Interactive Takes Shot at DraftKings, Says No Surcharge.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/rsi-takes-shot-at-draftkings-says-no-surcharge\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/rsi-takes-shot-at-draftkings-says-no-surcharge\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/rsi-takes-shot-at-draftkings-says-no-surcharge\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/07\/RSI.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/07\/RSI.jpg\",\"width\":1602,\"height\":1062,\"caption\":\"A Rush Street Interactive advertisement. 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