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Mobile sports betting makes New York over $740M in revenue

  • / Updated:
  • Staff Report 

Mobile sports betting has been a huge money maker for New York State.

Since mobile sports betting was legalized New York has outperformed every other state in the U.S. Officials say $542 million in taxes has been collected, plus another $200 million in licensing fees.

It means a grand total of more than $740 million, with $1 billion in annual revenue for the state a possibility.

“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,” said Gov. Hochul. “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.

There are more than 11.3 million unique player accounts with more than 985 million transactions being completed since January. We’ve linked to the full-report on the website here.

Categories: NewsNew York State