New Jersey One Step Closer to Legalizing Sports Betting

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New Jersey is pushing to be ready to start taking bets on sports.

On Monday, June 4th, a New Jersey Assembly Panel gave its blessing to the state's proposed sports betting law.

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The panel approved a bill that sets the tax rate for sports bets at 9.75 percent for in-person bets at casinos and racetracks, and 13 percent for bets taken online.

The bill does not contain an Integrity Fee payment for sports leagues to help them police betting patterns.

Officials of Major League Baseball, the NBA, and the PGA Tour testified that they need the fee.

Lawmakers hope it can be approved by both houses and signed by Governor Phil Murphy in time to take bets starting this Friday, June 8th.

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