NJ Sports Betting Bill with Integrity Fee

NJ Sports Betting Bill with Integrity Fee

Three of New Jersey’s own legislators and Democrats at that – Eric Houghtaling, Joann Downey and John Burzichelli are co-sponsoring a new draft of the proposed sports betting bill –which fascinatingly – includes a proposal for an NJ casino integrity fee.

This would not be intriguing if the matter had not already cost 9 million dollars in legal bills and received endless representations from sports representatives lobbying for this very thing over a period of six years previously.

That said, this new proposal is a slightly softened version of what has come before it and avoids giving sporting leagues the 1% integrity fee on all sums transacted. The authors of this new draft have, in fact, been extremely creative, in that the sports leagues will not have easy access to these funds. Instead, the state will manage the fund and each sporting body will need to apply for these funds via claim forms. The final decision for the distribution of such funds will lie with the New Jersey Attorney General. That is – if this draft bill is successful.

There is no shortage of a source of fees to keep the proposed integrity fund looking rosy. Currently, these are proposed:

  • A deposit, on the application, of $100 000 for any sports wagering permit
  • New applications for sports wagering permits will be issued at no less than a cool

$500 000 per application

  • Renewal Fees for permits annually, in the amount of $250,000
  • A yearly fee of R500,000 to the State General Fund – half of that to be used for funding for compulsive gambling therapy programs
  • NJ online casinos and sports betting will be taxed at a rate of 12.5%
  • Gross revenue from casinos and tracks will be taxed at 8%

Meanwhile, the other considerations for the legislation are not unusual and don’t contain any surprises:

  • NJ Sports betting permits can be applied for by any AC casino or race track, and wagers can be made either via physical sportsbooks or can be made using mobile devices
  • The intra-state regulatory body for sports betting would be NJ’s Division of Gaming Enforcement
  • Approving the operation of a sportsbook, or regulating the joint co-operation of a casino and a racetrack, will fall under the NJ Racing Commission
  • Wagers will not be permitted on college or school sporting activities

This re-draft certainly has some surprises, and we can be assured of further modifications as the leagues and the state try to find some mutually agreeable ground to finally put this one to rest, but progress is certainly being made.

Profile Pic.
About Rich Migliorisi

Long before taking on the role of Managing Editor for BonusSeeker.com in 2018, Rich Migliorisi began his journey with a degree in Film & Broadcasting. Rich began his career as a film editor, but as a lifelong sports fan and an enthusiastic writer, he decided to also pursue a sports writing career in 2013. Rich was nominated by the Fantasy Sports Writers Association (FSWA) for Fantasy Baseball Writer of the Year in 2013 for his editorial work. During this time, Rich simultaneously contributed to various sports publications and video editing projects, while also grinding poker for a living. In 2015, he was hired at MLB Advanced Media as a Senior Site Manager on MLB.com. Rich later joined NHL.com in the same capacity, lending his talent to both operations until joining the team at BonusSeeker. His experience in sports and poker makes for a unique blend of expertise in the world of online casinos and sports betting.

MLB, NHL, The Fantasy Fix, Video Editor, Poker Player

Latest News
NJ Online Casino Golden Nugget Sets New Revenue Record In July

As another month goes by, there comes another revenue report...

GAMBLING INDUSTRY UPDATES
2019 US Open Tennis Odds And Picks Using DraftKings Sportsbook App

The final grand slam of the tennis season is fast approachin...

SPORTS PICKS AND PREDICTIONS
Chumba Casino Play On Facebook Ending August 20

Chumba Casino and its real cash prizes has been a fixture on...

GAMBLING INDUSTRY UPDATES
Featured In
Business Insider
MarketWatch
Reuters
Yahoo! Finance
BonusSeeker.com and all content herein is intended for audiences 21 and older. BonusSeeker.com publishes news, information, and reviews about regulated online gambling operators, including, but not limited to casino, lottery, poker, and sports betting. You may see paid advertisements for online casinos, poker sites, and sportsbooks (including DraftKings, FanDuel, and others). You must be 21 years or older, and a US citizen to register at gambling sites in New Jersey, Pennsylvania, and other states. The information provided on BonusSeeker.com does not constitute advice, and we reserve that there is no way improve your chances of winning in online gambling. Always gamble responsibly. If you should require any advice for gambling-related problems, please call 1-800-GAMBLER.

© Copyright 2019 - All Rights Reserved. Privacy Policy - XML Sitemap