New Jersey passes bill to raise taxes to 19.75%
The measure was approved in the Senate and the House.
Key Points
- Previously, taxes were set at 13% for iGaming and 15% for mobile sports betting
- Now, all gambling tax will be set at a rate of 19.75%
- Bil A5803 was voted in as part of a 25-14 vote by the State Senate
Lawmakers in the state of New Jersey have passed a Bill A5803in both the State Senate and in the House, raising gambling tax to 19.75%.
New Jersey lawmakers greenlighted Bill A5803, a proposal that will raise taxes on online gaming and mobile sports betting.
Previous tax rates for iGaming and mobile sports betting were 13% and 15% respectively. Both will have a new rate of 19.75% moving forward.
To date, online gaming is legal in some form in seven US states, although some of those have limited access, such as online poker only.
States with legal iGaming access include Pennsylvania, Delaware, Michigan, New Jersey, Rhode Island, West Virginia and Connecticut.
Other states have attempted to introduce iGaming, including Indiana. However, Hoosier gamblers will have to wait beyond this year’s legislative session for another chance at legalized iGaming.
Mobile sports betting is currently legal in 30 states. Along with the District of Columbia, 38 states have legal and regulated retail sports wagering markets in place.
Elsewhere this week, New Jersey announced that sweepstakes models of wagering would be prohibited. This separate bill (A5447) would also establish new penalties for unlawful practices and gambling operations.The Division of Consumer Affairs and Division of Gaming Enforcement would be authorized to enforce these new penalties under this bill.
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