Gambling boom detrimental to New Jersey economy, report says

Campaigners call for scrutiny of ‘gold rush’ after economists estimate gambling tax surge may be ‘roughly equal’ to social costs

A promised economic boom from online gambling’s rapid expansion across the United States may be a mirage, according to new research.

New Jersey, which led the charge for mobile sports betting’s legalization, has received hundreds of millions of dollars in taxes from the sector. But economists cautioned that the cost of higher problem gambling rates could be “roughly equal” to the state’s takings.