Christie Signs New Tax on Fantasy Sports Betting

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Governor Chris Christie has officially signed a new bill into law to regulate and tax daily fantasy sports betting.

The new measure will impose a 10.5 percent tax on the winnings of companies that offer daily fantasy sports betting.

Officials say the new tax would generate an estimated $6.6 million annually in state taxes.

The law enables daily fantasy sports providers to partner with a casino or racetrack, but doesn't require them to do so.

It prohibits the use of high school sports games and players.

State Sports Betting to Be Reviewed by Supreme Court

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