New York reached a round number ahead of schedule last week, eclipsing $10 billion in annual sports betting handle.
Despite a relatively tepid seven days, with $194.5 million in handle for the week ending Aug. 28, New York bettors have risked $10.3 billion since the Jan. 8 launch of mobile sports betting, with $766.5 million in gross gaming revenue (GGR) and taxes totaling $390.9 million, according to the latest report from the state gaming commission.
Back in July, Gov. Kathy Hochul’s office projected $357 million in tax revenue for fiscal year 2023, which began April 1. That projection could prove modest. Since the week that started March 28, New York’s nine mobile sportsbooks have collected $451.9 million in GGR, yielding $230.5 million in tax revenue with seven months left in the fiscal year, including the entire NFL season.