We highlight the pivotal moments that led to legal NJ sports betting. New Jersey was one of the first states in the country to legalize sports betting in 2018. Timeline: Legal New Jersey Sports Betting Movements Tax Rate: 8.5% land-based, 13% for online bets, 14.25% for online horse racing bets.Licensing Fee: $100,000 for casinos and race tracks, $400,000 for an internet gambling license plus a $250,000 responsible gambling fee.Permitted Sports Betting Operators: Multiple operators including BetMGM, DraftKings, and multiple casinos.Estimated Sports Betting Revenue: Over $50 million.College Sports Betting: Inland (not allowed to bet on in-state teams and games played in the state), Offshore (available online with no restrictions).Live/In-Play Betting: Inland and via offshore.
The current sports betting market in the state is outlined below. The state has an incredible amount of options for sports betting enthusiasts. New Jersey was one of the first states to legalize online and in-person sports betting after the Supreme Court PASPA ruling in 2018.
