New York State has made more than a half billion dollars in mobile sports wagering tax revenue, Governor Kathy Hochul announced Wednesday.
Mobile sports betting opened in New York State in January 2022. Along with the collected $542 million in taxes through the week ending Oct. 30, the state also collected $200 million in licensing fees for a grand total of $740 million in revenue. Hochul’s office said most of the money will be used toward education.
Hochul said this is the largest collection of revenue from sports betting in the nation.
“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,” Governor Hochul said.
