Talk:Gambling in New Jersey

Gambling Mid‑importance

This article is within the scope of WikiProject Gambling, a collaborative effort to improve the coverage of Gambling on Wikipedia. If you would like to participate, please visit the project page, where you can join the discussion and see a list of open tasks.GamblingWikipedia:WikiProject GamblingTemplate:WikiProject GamblingGambling articles

Mid

This article has been rated as Mid-importance on the project's importance scale.

WikiProject Gambling To-do:

Current collaborations:

Improve an article to FA

Improve an article to A

Help with the Gambling articles needing attention.
Tag the talk pages of Gambling-related articles with the {{WikiProject Gambling}} banner.
The link to the Missouri gambling site is now out of date and needs to be updated.
Japan section reads as though it was written by the gambling industry - quotes of 160% returns are 'citation needed'.

New Jersey Mid‑importance

	New Jersey portal This article is part of WikiProject New Jersey, an effort to create, expand, and improve New Jersey–related articles to Wikipedia feature-quality standard. Please join in the discussion.New JerseyWikipedia:WikiProject New JerseyTemplate:WikiProject New JerseyNew Jersey articles
Mid	This article has been rated as Mid-importance on the project's importance scale.

(Online) gambling - tax on revenue

Latest comment: 8 years ago2 comments2 people in discussion

The section "Online Gambling" includes the text:

The law legalizes online casino gambling for a 10-year trial period, restricts the operation of the [[website]]s to Atlantic City's eleven casinos, and imposes a 15% tax on online gambling revenue, instead of the 8% currently imposed on casinos.<ref name="online gambling PI">{{cite web|url=http://mobile.philly.com/business/?wss=/philly/business&id=193398351&viewAll=y#more|title=Christie signs bill legalizing online gambling|publisher=[[Philadelphia Inquirer]]|author=Suzette Parmley|date=February 26, 2013}}{{dead link|date=April 2016}}</ref>{{clarification needed|date=April 2016}}

(I added the Casino and {{clarification needed}} tags.) Is it really on the revenue, and not the profits? 15% is a lot of revenue – much more than the overround (profit) on many games, and games such as roulette, for example, don't even average 8%. Unfortunately the link is dead so I can't check this statement from that. (In contrast, in the United Kingdom, betting tax used to be payable either "before" (on the stake) or on the winnings, if any – that tax was abolished some years ago and now the company is taxed on its profits.) Si Trew (talk) 08:28, 3 April 2016 (UTC)Reply

@SimonTrew: You are confusing profits with the house edge. Gaming taxes in the US are typically calculated on "gross gaming revenue", which is the total amount wagered by players minus the total amount awarded back to the player. For example, if roulette has a house edge of 8%, then the gross gaming revenue would be about 8% of the total amount wagered, and the tax would be 15% of that 8%. Toohool (talk) 17:42, 3 April 2016 (UTC)Reply

Thanks for that. That definition of revenue is not one I (English) recognised. Perhaps it could be clarified per WP:WORLDWIDE. No, in UK it's on the profits – including those from non-gaming activities, I think; I don't know how a company " qualifies" to pay this higher tax though. 18:09, 3 April 2016 (UTC)

Sports Gambling, 2018

On May 14, 2018, the Supreme Court of the United States struck down the Professional and Amateur Sports Protection Act of 1992, clearing the way for states including New Jersey to legalize, regulate and tax sports gambling. On June 11, 2018, New Jersey Governor Phil Murphy signed the sports wagering bill that legalizes sports betting at casinos in Atlantic City, New Jersey racetracks, as well as former racetracks, as well as online and mobile sports gambling. The tax rate for land based sports betting is set to 8.5% while internet sports betting rate is 13%.

The former racetrack definition would make Garden State Park in Cherry Hill, as well as the Atlantic City race course in Egg Harbor Township both eligible to have sports betting, even without live racing.

The tax revenues from sports betting at casinos would be deposited into the Casino Revenue Fund, while the tax revenues from the racetracks would be deposited into the State General Fund.

Add topic