NEW YORK- New York State has collected more than $1.55 billion in taxes on sports bets totaling $19 billion in the second year of legalized sports betting in the state.
“Over the last two years, New York is the clear leader in providing responsible entertainment for millions while bringing in record-shattering revenue for education, youth sports, and problem gambling prevention,” Governor Hochul said. “I look forward to this third year of our successful gaming policies that deliver top tier mobile sports wagering experiences. We will continue to generate revenue that will enrich the lives of New Yorkers, all with important safeguards in place to help those who need it.”
According to state officials, most of the tax revenue collected from mobile sports betting is used to fund education.
