New York State Mobile Sports Betting Tax Revenue Sets Huge Record

New York State has set a record, beating out every other state, when it comes to tax revenue collected from mobile sports betting. Mobile sports betting, which has been legal in NYS since January 2022, has generated over $267 million from sports wagering. Of the $267 million, mobile sports betting has generated $263 million since January 8 and sports wagering at the four commercial casinos in the state has generated $4.3 million since July 2019.

Reports state that the tax revenue generated by sports betting in New York has surpassed other states' revenue from multiple years. Governor Kathy Hochul said,

In less than half a year, New York has become a leader among states in implementing successful gaming policies, with hundreds of millions of dollars going to important programs that will improve the lives of all New Yorkers. I am committed to upholding responsible and effective gaming policies that will move the industry forward and continue to drive our state's economic growth.

Here's How New York Tax Wagering Revenue Will Be Used For

The tax revenue generated from New York's mobile sports betting will be used for elementary and secondary education, grants for youth sports programming, problem gambling prevention, treatment, and recovery. In addition to the tax revenue, New York has collected $25 million from 8 mobile sports wagering platform providers in license fees. All of these fees have been used to fund education.