New Jersey Online Sports Betting Tax: Implications, Comparisons, and Future Outlook
New Jersey’s online sports betting has seen exponential growth, with the state implementing a 15% tax on gross gaming revenue. This progressive approach has not only bolstered state revenue but also faced challenges in managing tax implications. The industry’s success is attributed to New Jersey’s progressive stance on gambling, robust regulatory landscape, and diverse betting options, including football, basketball, and eSports. Despite the tax burden, the state’s online sports betting market continues to thrive, fostering competition and innovation among operators.
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