New Jersey lawmakers gave preliminary approval Thursday to higher taxes on internet gambling and sports betting, and moved to extend the increase to daily fantasy sports games as well.
The state Senate Budget Committee approved a measure raising the tax rate on online sports bets and internet gambling to 19.75%.
Online sports betting is currently taxed at 13%, and internet gambling is taxed at 15%.
The move was a compromise from the 25% rate Gov. Phil Murphy sought in his budget plan in February.
“Anytime you ask someone to kick in a little more, I know it’s a difficult ask,” said Sen. Paul Sarlo, D-Bergen, the chairman of the committee. “We worked with our racetracks and casinos to come up with something better than the governor’s budget.
