Good News from the Garden State!
New Jersey’s budget negotiators have reportedly settled on a 19.75% tax rate for both sports betting and iGaming (for iGaming this would mean 22.25% because of the local tax surcharge). We expect this will be agreed upon formally in the budget vote.
On behalf of our members, the iDEA team, led by John Pappas and consultant Chris Russell, worked hard to explain the downside of a high taxes via an op-ed by Jeff Ifrah, a targeted ad campaign that linked to a dedicated landing page on our website, and a direct email campaign to state lawmakers. We heard directly from lawmakers and stakeholders that our messaging had an impact.
While industry could not stop the increase entirely, it should be considered a victory that the increase was less than the Governor (and others) were seeking.