The $117 million in gaming taxes generated from online gambling revenue accounted for almost 54% of the year-to-date total of more than $217 million collected from overall gambling taxes. Gaming taxes from online gambling gross revenue jumped by more than $59 million through the end of October, compared to the same period last year. Visit Part圜asino NJ Read More Online Gaming Taxes Buffer the Blow for New Jersey Fortunately for New Jersey, revenue from online gambling is taxed at 15%, close to double the rate of land-based gaming at 8%,” said Bokunewicz. “For an industry looking at nearly a 23% year-to-date loss of total gaming revenue due to Covid-related restrictions, you would expect an equal degree of decline in gaming tax. The Atlantic City casino shutdown lasted 107 days, but the casinos eventually reopened July 2, with greatly reduced capacity limits, and other restrictions, such as on live entertainment and dining. Also, online and mobile forms of internet gambling are taxed at a higher rate than in-person gambling. When Governor Phil Murphy ordered Atlantic City’s nine casinos to close in mid-March, online sports betting and iGaming picked up. Levenson Institute of Gaming, Hospitality & Tourism at Stockton University. Gaming taxes on industry were important in helping to offset losses in from brick-and-mortar casinos,” observed Jane Bokunewicz, coordinator of the Lloyd D. “Internet gaming tax revenue more than doubled this year. The reason for the relatively small decline in casino gaming taxes during the Atlantic City casino closures is the internet.

That assistance includes vocational and educational services, transportation, housing assistance, and medical reimbursements. Gaming taxes, whether from land-based or online casinos, go into the Casino Revenue Fund for programs assisting the disabled and seniors throughout the state. Internet Gambling Saves Programs for Seniors and the Disabled Will the Uptick in Gaming Tax Continue?.Online Gaming Taxes Buffer the Blow for New Jersey.Internet Gambling Saves Programs for Seniors and the Disabled.

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