When regulated New York online sportsbooks begin their first full season of NFL wagering in September, the state’s nascent market enters new territory under propitious circumstances.
Since launching Jan. 8, New York sportsbooks have already handled more than $9.7 billion in sports wagers statewide, a figure that cements the Empire State as the nation’s capital of sports betting. Online wagering has already generated more than $368 million for New York state tax coffers, while only four states across the nation have eclipsed the $100 million threshold since the U.S. Supreme Court’s repeal of PASPA in May 2018.
The explosion of sports betting leaves New York State Gaming Commission Executive Director Rob Williams optimistic that the state could generate $500 million in tax revenue from online sports wagering in the first year of the market.