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Supreme Court decision, by 2021. In just three years’ time, say analysts, New Jersey sportsbooks are expected to be pulling down $3.4 billion in wagering revenue and seeing net profits of an estimated $442 million as online sports betting using mobile devices expands like wildfire as it has in places like the UK. “In Nevada, about half of the total handle in the local’s market is bet through mobile devices. We expect New Jersey to fall around a similar number,” said Chris Grove, managing director at Eilers & Krejcik. New Jersey currently taxes land-based sportsbooks bets at 9.75% and online sports bets at 14.25% and is expected to pick up the lion’s share of betting action until Pennsylvania, Connecticut and Oregon, all of which have legalized sports betting legislation on the table, come on line next year.
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