Mobile Sports Betting Revenue Record Set In New York State
In less than six months, New York State collected a staggering amount of tax revenue on mobile sports wagering - more than any state in history.
Back in January, the New York State Gaming Commission announced that four licensed Mobile Sports Wagering Operators - Caesars Sportsbook, DraftKings, FanDuel, and Rush Street Interactive/BetRivers had all met the state's criteria, and the state launched into the world of mobile sports betting.
Since then, Bet MGM, PointsBet, Resorts WorldBET, WynnBET, and now Bally Bet have joined the party, bringing the total number of operators in New York State to nine.
New York Governor Kathy Hochul announced that in just under six months of operation, the Empire State's mobile sports wagering program not only broke the Division of the Budget's 2022 revenue projections but set a United States revenue record in the process.
According to state data, New York generated more than $302 million in tax revenue since first going online on January 8th, 2022. The entire amount raised by the state will be directed for education aid, youth sports, and responsible gaming programs.
Governor Hochul said via a press release:
In just six months, New York has become a leader among states in implementing successful gaming policies, with hundreds of millions of dollars going to important programs that will improve the lives of all New Yorkers...I look forward to continuing to enact responsible gaming policies that provide exciting entertainment for New Yorkers of legal age.
Prior to New York's record-setting start, the previous high water mark belonged to
Pennsylvania, which collected $265.6 million in sports wagering tax revenue since November 2018. New York surpassed that total in just six months.
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