{"id":9343,"date":"2025-06-25T00:21:23","date_gmt":"2025-06-25T00:21:23","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2025\/06\/25\/new-jersey-budget-talks-include-online-gambling-tax-increase\/"},"modified":"2025-06-25T00:21:23","modified_gmt":"2025-06-25T00:21:23","slug":"new-jersey-budget-talks-include-online-gambling-tax-increase","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2025\/06\/25\/new-jersey-budget-talks-include-online-gambling-tax-increase\/","title":{"rendered":"New Jersey Budget Talks Include Online Gambling Tax Increase"},"content":{"rendered":"<div>\n<p>New Jersey officials are moving closer to increasing the tax rates on iGaming and sports betting. Discussions between Governor Phil Murphy and lawmakers point to higher rates being included in the upcoming state budget, expected to be finalized by June 30.<\/p>\n<hr>\n<p>G<em><strong>ood to know<\/strong><\/em><\/p>\n<ul>\n<li><em><strong>New tax rate may land between 18% and 19.75%.<\/strong><\/em><\/li>\n<li><em><strong>Proposed changes could bring in over $400 million in extra revenue.<\/strong><\/em><\/li>\n<li><em><strong>A separate bill aims to ban prop bets on college sports in the state.<\/strong><\/em><\/li>\n<\/ul>\n<hr>\n<p>Governor Murphy has pushed for a 25% tax rate on adjusted gaming revenues, but lawmakers appear to be settling on a lower figure. Current rates stand at 15% for <a href=\"https:\/\/igaming.org\/casino\/what-is-igaming\/\">iGaming<\/a> and 13% for online sports betting. The new plan under discussion would likely increase both, with reports suggesting the final number could be around 19.75%.<\/p>\n<p>The updated rates would generate an estimated $402.4 million in additional revenue for New Jersey, helping to fund state programs and balance the budget.<\/p>\n<h2>Operators Face Larger Tax Bills<\/h2>\n<p>Should the tax hike reach the reported 19.75% rate, major operators like FanDuel and DraftKings would see a noticeable jump in their payments to regulators. FanDuel would have paid an additional $67 million in the previous fiscal year, while DraftKings\u2019 tax bill would have increased by $56 million.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-logo box-25 relative\">\n<div class=\"space-org-3-item-logo-ins box-100 text-center relative\">\n<div class=\"space-org-logo-title-box box-100 text-left relative\">\n<div class=\"space-org-3-item-logo-box box-25 relative img-radius\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/mirax-casino\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow\"><br \/>\n\t\t<amp-img alt=\"Mirax Casino\" src=\"https:\/\/igaming.org\/wp-content\/uploads\/2023\/01\/Mirax-Casino.png.webp\" width=\"50\" height=\"50\" layout=\"fixed\"><br \/>\n\t\t<\/amp-img><br \/>\n\t\t<\/a>\n\t\t<\/div>\n<div class=\"space-org-3-item-logo-title box-25 relative py-10\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/mirax-casino\/\" title=\"Mirax Casino\" target=\"_blank\" rel=\"nofollow\">Mirax Casino<\/a>\n\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\">\n\t\t<strong>350% or 5BTC + <strong>150 Spins!<\/strong><\/strong><br \/>\n\t\t<\/p>\n<div class=\"pt-1\">New players only. Exclusive Welcome Bonus of 350% + 150 Free Spins\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-rating box-25 relative mb-10\">\n<div class=\"rating-box text-center box-100  relative\">\n<div class=\"space-org-3-item-rating-box relative\">\n<div class=\"stars\"><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><\/div>\n<div class=\"space-org-rating-notice relative\">Casino<\/div>\n<\/p><\/div>\n<p>\t\n\t\t\t\t <\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-button box-25 relative\">\n<div class=\"space-org-3-item-button-ins box-100 text-center relative\">\n\t\t\t\t<a href=\"https:\/\/igaming.org\/site\/mirax-casino\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow\">\tVisit Site<\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>Even though final numbers are still under review, any increase would align New Jersey with other states that have already raised tax rates on sports betting.<\/p>\n<h2>Other States Are Raising Taxes Too<\/h2>\n<p>New Jersey is not alone in considering new tax rates. Maryland increased its tax on sports betting to 20%, while Louisiana went further, raising its rate to 21.5%. Illinois opted for a different model, applying a tiered per-wager tax that starts at $0.25 for the first 20 million bets, increasing to $0.50 after that mark.<\/p>\n<p>In response to the Illinois change, <a href=\"https:\/\/igaming.org\/sports-news\/fanduel-adds-illinois-betting-fee-after-state-hike-leaves-no-choice\/\">FanDuel<\/a> and <a href=\"https:\/\/igaming.org\/sports-news\/draftkings-joins-fanduel-in-adding-fee-to-illinois-wagers\/\">DraftKings<\/a> announced a $0.50 transaction fee for every wager placed within the state to help cover the new costs.<\/p>\n<h2>College Betting Rule Also Moves Forward<\/h2>\n<p>Alongside the tax discussions, Senator Kristin Corrado\u2019s proposal to ban proposition bets on college sports has gained momentum. Her bill passed through the State Government, Wagering, Tourism &#038; Historic Preservation Committee on <a href=\"https:\/\/igaming.org\/sports-news\/new-jersey-moves-toward-ban-on-college-prop-bets-after-year-of-ncaa-pressure\/\">June 20<\/a>. It aims to protect student-athletes and restrict certain types of betting that have raised concerns in recent years.<\/p>\n<p>The post <a href=\"https:\/\/igaming.org\/casino-news\/new-jersey-budget-talks-include-online-gambling-tax-increase\/\">New Jersey Budget Talks Include Online Gambling Tax Increase<\/a> appeared first on <a href=\"https:\/\/igaming.org\/\">iGaming.org<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>New Jersey officials are moving closer to increasing the tax rates on iGaming and sports betting. Discussions between Governor Phil Murphy and lawmakers point to higher rates being included in the upcoming state budget, expected to be finalized by June 30. Good to know New tax rate may land between 18% and 19.75%. Proposed changes [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-9343","post","type-post","status-publish","format-standard","hentry"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":6}},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/9343","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/comments?post=9343"}],"version-history":[{"count":0,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/9343\/revisions"}],"wp:attachment":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/media?parent=9343"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/categories?post=9343"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/tags?post=9343"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}