The first question, which will be partially answered on Saturday, is whether New York books will offer the same betting lines as those books offer in New Jersey. The question now is how much tax revenue from New Yorkers can New Jersey still salvage? More than half of the estimated $180 million in tax revenue in the legal sports betting era came in between January and December 2021. New Jersey particularly benefited from a boom in handle in 2021 - after a half-year of revenue in 2018, a fledgling full launch in 2019, and a COVID-ravaged year of 2020. But even if the former figure is two times too high, that still would mean that the Garden State has enjoyed a $22.5 million bit of largesse thanks to New York’s tortoise-like pace in launching mobile sports betting. Some in the industry are skeptical that the New York share of the gambling pie is quite that high. That drops to $36 million using the 20% figure. Using the 25% ratio for all sportsbooks in New Jersey, and the $180 million end-of-2021 tax estimate, the total windfall from New Yorkers has been about $45 million.

How much did that bonus New Jersey collected from New Yorkers amount to in 3½ years? There are estimates, at least.Ī study by the Eilers & Krejcik gaming research firm concluded that in 2019 - the first full year of sports betting in New Jersey - about 25% of market leader FanDuel’s mobile sportsbook revenue and 20% of rival DraftKings’ came from the pockets of New Yorkers.

on Saturday, when FanDuel, DraftKings, Caesars, and BetRivers begin taking bets.įive other operators - Bally Bet, BetMGM, PointsBet, Resorts World, and WynnBET - all may well launch by the end of January. That “bonus money” for New Jersey figures to slow considerably with the launch of four legal sportsbooks in New York as soon as 9 a.m. New Jersey has found itself a lucrative new revenue stream since the opening of legal, regulated sportsbooks in mid-2018.Īccording to numbers calculated by NJ Online Gambling, the state has taken in $165.5 million in taxes on sports betting through November 2021. Assuming another big wagering month of football in December - figures will be announced in mid-January - let’s round it up to $180 million in the post-PASPA era.īut much of that money was collected from frustrated New Yorkers who insisted on betting legally and crossed the Hudson River by various forms of transportation to make their wagers.

Nj gambling tax revenue