The imminent hike of the online sports betting tax in Illinois from 15% to up as high as 40%, coming on the heels of Ohio’s doubling of its own tax rate that went into effect earlier this year, already is sending shock waves through the gaming industry.
But a proposed sports betting tax increase introduced in New Jersey, if ever approved, would leave the industry and investment community reeling even more.
That’s because the Garden State — the second in the U.S. to launch retail casinos (in 1978) and online casino gaming (in 2013) and the one that won a six-year court battle in 2018 to open the door for the legal sports betting revolution — traditionally is known as a “business-friendly” state for the gaming industry.
