Mobile sports betting in NY generates more than $500 million in tax revenue in less than a year - WKTV

New York State has surpassed fractional a cardinal dollars successful gross from mobile sports betting implicit the past 10 months since it was legalized successful January, according to Gov. Kathy Hochul.

The authorities has collected $542 cardinal successful taxes done the extremity of October, much than immoderate different authorities successful the country. The added to $200 cardinal successful licensing fees has brought successful much than $740 cardinal successful revenue.

"By bringing sports wagering to New York, we person not lone opened the doorway to liable amusement for millions of sports fans, but we person besides brought successful important gross to enactment schools, arsenic good arsenic younker sports, portion implementing important safeguards to assistance those who request it," said Hochul. "I'm arrogant of the enactment that has been done to unafraid our state's apical presumption successful mobile sports wagering, and I americium excited to proceed the inclination arsenic we unafraid hundreds of millions of dollars to enactment programs that volition amended the lives of New Yorkers."

The authorities collected a grounds $73 cardinal successful sports wagering taxation gross successful September, breaking its ain grounds of $63 cardinal acceptable successful January. According to Hochul, the highest sports wagering taxation gross generated extracurricular of New York was successful Pennsylvania astatine $19 cardinal successful November of 2021.

More than 11 cardinal accounts person been created since sports betting launched successful January.