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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. Therefore, New Jersey’s piece of the pie has amounted to approximately $620,500 so far. It’s a number that isn’t going to make a significant dent in New Jersey’s $37.4 billion budget.

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"Placeholder" bills recently introduced in the Ohio legislature lack details about where and how sports betting would be allowed and regulated, and at what rate it would be taxed. Hollywood Casino Columbus owner Penn National Gaming said in a statement issued to The Dispatch: "We're glad to see the legislature beginning the process of developing sports-wagering legislation, and we look forward to sharing our views as the legislative process continues." A spokeswoman for the Eldorado Scioto Downs racino said the company had no comment at this time. Getting states to set up a framework for sports betting in a timely matter pits "two competing forces" within state governments, said David G. Schwartz, director of the Center for Gaming Research at the University of Nevada-Las Vegas. "It's inefficiency and slowness versus the desire for money," Schwartz said. "The question is, are they more hungry or more lazy?" Even after a state law is in place, it can take additional time to launch operations, as Mississippi has seen. Its casinos weren't ready out of the gate to begin offering sports betting on the state's first day of legalization earlier this month. Experts caution that gambling revenue is by nature volatile and hard to predict. Many states, including Ohio, have seen tax revenue from casinos and racinos fail to meet original projections. Sports-betting revenue is even more difficult to predict because of the way it works, Schwartz said. "Let's say the Browns were in the Super Bowl," Schwartz said.

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