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Online Gambling Expands With FanDuel, DraftKings |

Supreme Court decision from earlier this year. The latest development comes from fantasy sports betting site  FanDuel . It has reportedly launched FanDuel Sportsbook , which offers online betting services for real sporting events — but only to consumers located in New Jersey, for now. Rival fantasy sports provider DraftKings previously launched its own online sportsbook about a month ago, before the start of the NFL season. According to Fortune , which previewed the FanDuel sportsbook app, “it offers a variety of features, including seven different payment options, future betting lines and in-game wagering that allows users to bet on live games.” A review of the app in NJ Online Gambling said that “FanDuel seems to have passed on million-dollar attention-grabbing schemes for its sportsbook, instead focusing on ease of use, especially where payment processing is concerned.

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Sports Betting Makes Sense While Online Gambling Makes Dollars

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. 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. It’s true the state’s legal sports betting industry is just getting off the ground, and doing so in a traditionally dead time for sports. After all, the NFL and NBA seasons don’t get going until the fall. But, it may still be awhile until sports betting even approaches online casino.

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