New Jersey Lawmakers Propose Sports Betting TaxLawmakers Want 0.25-Percent Tax On Every Wager |
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A pair of New Jersey lawmakers have proposed adding a 0.25-percent tax on all potential sports wagers in their state that would go toward helping the sports leagues prevent game fixing and other corruption.
New Jersey Senator Jim Whelan and Assemblyman Vincent Mazzeo wrote in a letter dated Monday that the funds could go to a “Game Integrity Department” in each sports league that elects to create it.
Forbes pointed out a big issue with the idea. Currently, New Jersey is allowing its gambling facilities to offer sports betting if they so chose (none have done so however pending an October court hearing), but the state won’t be involved with regulating. It’s a way to get around a federal ban on sports betting in all but four states—not including New Jersey.
The problem may come with enforcing the regulation. How exactly would the State of New Jersey be able to enforce these proposed fees? Sportsbook operators would have to work on the honor system with sports leagues due to the unusual situation of the repeal of the law prohibiting sports gambling without the concurrent implementation of any broad-based state regulations or licensing. It may be a game of catch-up for some time.
Gov. Chris Christie issued a directive earlier this month, and one racetrack has said that it plans on launching by the end of October if everything goes right between now and then.
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