New Jersey taxes sports bets at 8.5 percent on those made at brick-and-mortar locations, and 13 percent on mobile wagers.<\/p>\n
Zalewski says the numbers are too great to be ignored, as Illinois sports betting could be even richer than New Jersey’s, as the state is home to over a third more people.<\/p>\n
Of the $184 million in bets placed last month in New Jersey, $104.9 million were wagered online. Zalewski believes any sports betting legalization discussion in Illinois should include mobile betting.<\/p>\n
\nIf we add mobile, then you would talk about a real opportunity to have revenue affect the state of Illinois,” Zalewski stated.<\/p>\n<\/blockquote>\n
A report from the Illinois Commission on Government Forecasting and Accountability concluded recently that sports betting and daily fantasy sports would both benefit the state. “While it is difficult to predict the revenue potential of these gaming ideas without knowing the final product and its tax structure, each of these formats would create a new revenue source,” the report found.<\/p>\n
State lawmakers need to walk a fine line in setting the highest tax possible while still allowing casinos and sportsbooks to turn a profit. Pennsylvania’s sports betting tax of 36 percent has been viewed as exorbitant.<\/p>\n","protected":false},"excerpt":{"rendered":"
Illinois lawmakers will tackle sports betting this week during a state House Revenue and Finance subcommittee hearing. Along with sports betting, the Illinois House Sales and Other Taxes Subcommittee will discuss the merits of legalizing daily fantasy sports, and authorizing new casinos and granting horse racetracks the right to incorporate slot machines. Revenue Committee Chairperson […]<\/p>\n","protected":false},"author":25,"featured_media":90480,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[13,18,16,1074],"tags":[],"acf":[],"yoast_head":"\n
Illinois Lawmakers Considering Sports Betting Legalization<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n