Investigative journalists dive into rise of sports betting

Investigative journalists with The New York Times are publishing a multi-part probe into the rise of sports betting in America showing how the industry is changing politics and society. 

Eric Lipton, one of the investigators, spoke with Pat Kiernan on “Mornings On 1” Tuesday to explain some of their findings, including how New York’s high tax rate on mobile gambling is not deterring people from placing bets. 

“One of the things that we really analyzed as we looked at the the amount of betting per capita in every state that has legalized betting and what we found is that in fact, states with the high tax rates are not seeing less betting,” Lipton said. 

He said that before the rise of sports betting, the industry was concerned about high tax rates in New York, which is set at 51%, and that companies would “have to pay off too many taxes and they’ll change the odds because they’ve got to make their money, so you’ll lose more frequently.” 

“But it turns out that people are betting just as often in New York state and New Hampshire and some of the other states that have 51% or really high tax rates,” Lipton said.

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