It closed in 2015 and needs significant work. The Supreme Court cleared the way on Monday for states to legalize sports betting, striking down a 1992 federal law that had prohibited most states from authorizing sports betting. Supreme Court announced Tuesday that it will hear arguments from New Jersey in favor of legalizing sports betting at racetracks and casinos despite. In addition to the Monmouth Park, Meadowlands and Freehold Raceway tracks, one bill would also make the former Atlantic City Race Course, in Mays Landing, eligible to offer sports betting - if it were to reopen. That latter fee, when applied to racetrack winnings, would be used to provide payments of 0.75 percent to the municipality in which the betting operation takes place, and 0.5 percent paid to the county in which it is located.Īn additional, higher tax rate is likely to be imposed on sports betting revenue won over the internet. An additional reinvestment obligation of 1.25 percent would be assessed, as well. One proposed version of the law would tax sports betting revenue at casinos and racetracks at the same 8 percent rate the casinos currently pay. But, that provision will be stripped from any bill that advances and is ultimately approved, said Deputy Assembly Speaker John Burzichelli, a southern New Jersey Democrat.

At least one existing bill in New Jersey would provide the so-called 'integrity fee' payments to the professional sports leagues that they are seeking to help police betting on their games.

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