NY state tax revenue from mobile sports betting surpasses $500M
NY beats all other states in sports betting returns
Gov. Kathy Hochul announced on Wednesday that since early January, when mobile sports wagering became available in New York, the state has collected $542 million in taxes through the week ending Oct. 30, far surpassing every other state in the nation.
An additional $200 million in licensing fees has also been collected, generating a total of more than $740 million in revenue, most of it to be used for education. This far outperforms every other state in the nation, including those that have been accepting mobile sports wagers for several years.
“By bringing sports wagering to New York, we have not only opened the door to responsible entertainment for millions of sports fans, but we have also brought in significant revenue to support schools, as well as youth sports, while implementing important safeguards to help those who need it,” Governor Hochul said. “I’m proud of the work that has been done to secure our state’s top position in mobile sports wagering, and I am excited to continue the trend as we secure hundreds of millions of dollars to support programs that will improve the lives of New Yorkers.”
New York State set a record of $73 million in mobile sports wagering tax revenue in September, the most generated by any state to date, breaking its own record of $63 million set in January. For context, according to reports, the highest monthly mobile sports wagering tax revenue generated outside of New York is Pennsylvania in November 2021 at $19 million.