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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
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New York State Collects $542M In Mobile Sports Betting Tax Revenue In Less Than 10 Months New York State Collects $542M In Mobile Sports Betting Tax Revenue In Less Than 10 Months
New York State Collects $542M In Mobile Sports Betting Tax Revenue In Less Than 10 Months New York State has collected more than half a billion dollars in mobile sports betting tax revenue since it became available in the state in January. As of the week that ended on Sunday, Oct. 30, the State collected $542 million in taxes, surpassing all other states across the country, Gov. Kathy Hochul announced on Wednesday, Nov. 9. Hochul said the State also collected an addition $200 million in licensing fees, generating more than $740 million in revenue, which is mainly set to be used for education. "By bringing sports wagering to New York, we have not only opened the door to responsi…

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by Nicole Valinote
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Nearly $2B In Bets Placed In NY In First 30 Days Of Mobile Sports Betting Nearly $2B In Bets Placed In NY In First 30 Days Of Mobile Sports Betting
Nearly $2B In Bets Placed In NY In First 30 Days Of Mobile Sports Betting In the first 30 days since mobile sports betting launched in New York, nearly $2 billion in bets have been taken in the state. Gov. Kathy Hochul made the announcement on Monday, Feb. 14, saying $1.98 billion in wagers were taken in the state, a figure larger than any other state has reported. She said the betting is set to generate more than $70 million in tax revenue for the state over the first month. Mobile sports wagering launched in New York on Saturday, Jan. 8. "Over the past month, we've seen how mobile sports wagering can be an economic engine for New York, driving significant fun…

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by Nicole Valinote