deskgameNew Jersey online casinos had a flush October, reporting a record-breaking $213 million in revenue, with sports books – where 90% of all sports bets are placed online in our state -- garnering $77.5 million. The industries have generated almost $3 billion in revenues combined, year-to-date. Sports betting and its online variant were legalized in New Jersey in 2018 and have become a $10 billion industry nationally, with the State’s industry generating some of the highest gross revenues.
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deskgameBut they are mixing apples with oranges. The tax increase would fall only on online gaming operations, the casinos and the racetracks get a percentage of the net revenue from online gaming and the sports books. A higher tax will reduce revenue to the casinos and racetracks.
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