This bill amends current law regarding sports wagering license fees in New Jersey by establishing an additional annual fee of $250,000 for sports wagering licensees. This fee is to be paid in addition to the existing license issuance and renewal fees, which are currently set at $100,000 annually. The funds collected from this new fee will be allocated as follows: $140,000 will go to the Council on Compulsive Gambling of New Jersey, while the remaining $110,000 will be directed towards compulsive gambling treatment programs within the state.

The bill aims to enhance funding for gambling addiction prevention and treatment initiatives, thereby addressing the growing concerns related to compulsive gambling. The new fee structure is designed to ensure that a significant portion of the revenue generated from sports wagering is dedicated to supporting programs that assist individuals struggling with gambling addiction. The act is set to take effect on January 1 following its enactment.

Statutes affected:
Introduced: 5:12A-16