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So, while Americans may very well bet upwards of $150 billion on sports this year, the piece that sportsbooks keep in revenue and the tax revenue generated ends up significantly smaller. Numbers released by the New Jersey Division of Gaming Enforcement this week showed two significant things. The first is that NJ sportsbooks have taken in more than $57 million in bets since launch in mid-June. The second is that the operations earned just $7.3 million of that in revenue. The state’s land-based sports betting revenue tax rate sits at 8.5 percent.

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