![]() New Jersey has quickly emerged as the second most favorable place for Americans to wager on sports. New Jersey – 8% (land-based), 13% (online) Which States Bring In The Most Sports Betting Tax Revenue? Since the year began, with seven sports betting states reporting ( New Mexico excluded), the tax contributions for both the states and cities have exceeded $34 million. However, the legal states do not equally split this revenue, as each state is programmed with the responsibility to tax and regulate their own sports betting market as they see fit.įederal laws prevent sportsbooks from accepting action across state lines, which play a vital role in ensuring each state is correctly represented without the fear of being overtaken by a major sportsbook elsewhere in the country. – Since the sports betting ban in the United States was lifted in May of last year, over $66 million in tax revenue has been contributed to state and city governments. The majority of states allocate the taxes revenue to the state’s general fund to help with educational programs, health services, or infrastructure repair.New Jersey has collected the most sports betting tax revenue through 2019 however, Pennsylvania could surpass them with their recent mobile betting expansion.Being that each state taxes sports betting at a different rate, a higher betting handle doesn’t always equate to more money for the state. ![]()
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