New Jersey Sen. John McKeon’s 30% Online Casino Bill Has Been Delayed

While New Jersey Senator John McKeon proposed a bill in March 2024 that would include a tax hike on New Jersey online casinos and sportsbooks to 30%, it won’t be part of the 2024 fiscal year budget proposal. 

The proposed bill is on the back burner until the fall when the next session begins. 

To put the 30% in perspective, online casinos in New Jersey are taxed at 15%, and sportsbooks are at 13%. 

While this bill has been tabled, it could change in the future. 

New Jersey launched online casino play in 2013, providing a blueprint for all other states to follow.  

Tax Figures in Other States

Taxes will stay where they are in 2024, but they could change next year. Nearby states Pennsylvania, Ohio, and New York have higher tax rates. Pennsylvania has a 54% tax on slots and 16% on table games. New York sports betting has a 51% tax rate. Ohio has doubled its tax rate from 10% to 20% over the last fiscal year. 

Despite the tax situation, Pennsylvania has still had massive success, which could’ve encouraged New Jersey to change it. As of June 2024, the state has generated nearly $1.2 billion in revenue and is set to topple the $1.9 billion set in 2023.