Sports Betting Could be Subjected to Special Tax in New Jersey

The prospect of sports betting becoming a reality could also involve the introduction of a special tax to alongside it in the state of New Jersey.

Gambling news reports that Atlantic County state Senator Jim Whelan and Assemblyman Vincent Mazzeo submitted a draft to the commission of the NBA, Adam Silver. The two officials recommended in the letter that a 0.25% tax be added on all US sports bets in efforts to help battle sports corruption and any potential match-fixing.

Whelan and Mazzeo highlighted that although the legalization of sports gambling could potentially lead to blemishing the game in the US, the extra tax would help in overall counter-corruption actions. The funds collected with the tax would be transferred to a “Game Integrity Department” at the league’s offices, where suspicious betting practices would be observed.

Strong and objective points were highlighted in the letter

The letter submitted to the chief of the NBA objectively expressed the views and sentiments of the officials. “While we strongly support the legalisation of sports betting in New Jersey and the economic benefits it will bring to Atlantic City, we are cognisant that sports leagues like the NBA need the necessary resources to protect the integrity and fairness of games.”

Recently, New Jersey Governor Chris Christie announced that state’s racetracks and casinos are free to offer sports betting services to people. However, they must place wagers on events that take place outside of the New Jersey borders as per US gambling laws. Industry experts believe that more lax policies about sports gambling are set to follow.