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Here's How Much Mobile Sports Betting Has Generated For NY In 1st Year, Where It's Going Here's How Much Mobile Sports Betting Has Generated For NY In 1st Year, Where It's Going
Here's How Much Mobile Sports Betting Has Generated For NY In 1st Year, Where It's Going New York State has raked in some serious cash since mobile sports betting was legalized one year ago. In all, the Empire State has collected more than $709.2 million in tax revenue on such betting, the highest in the nation, according to Gov. Kathy Hochul’s office. Another $200 million was collected from licensing fees. That revenue came from the more than $16 billion that was wagered on sports since betting was first allowed in January 2022. So, where is all that tax revenue going? The overwhelming majority, nearly $700 million, goes toward education funding, the governor’s office said. …

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by Michael Mashburn