New York has generated more than 37% of the total tax revenue across all betting in the United States, according to a government department study.
The US Census Bureau is responsible for the Quarterly Survey of State and Local Tax Revenue (QTAX), with sports betting recently added to the list of tax sources.
QTAX for Q3 of 2023 revealed a significant impact from the Empire State as sportsbook activity recorded national tax and gross receipts of just under $506m.
New York commanded the greatest single total of the tax generated from sports betting, worth $188.5m for the penultimate quarter last year. No state posted a higher tax contribution with Indiana coming second on the list with $38.6m.
Ohio, Illinois, and Pennsylvania made up the top five with figures of £32.9m, £32.4 and $28.8m, respectively.
New York, new records
The QTAX report follows another gambling landmark for New York after it set a new online sports betting record with January revenues topping $211.5m, raising the bar for a second consecutive month.
In December 2023, gambling revenues reached $188.3m, only for the figure to spike 12.3% last month, which was an increase of 41.6% year on year.
Flutter Entertainment-owned FanDuel was confirmed as the leading betting operator in New York State with a record online revenue of $109.2m in January, the highest-ever figure posted by a single outlet.
These increases and New York’s position as the highest tax-generating state for sports betting in North America come despite the continued absence of igaming in the market.
State governor Kathy Hochul recently set out her executive budget for 2025 but there was no introduction for igaming, in a setback for those who are campaigning to deliver online gambling.
Senator Joseph Addabbo filed a revised igaming bill last month, including online lotteries, which proposed to add a further $1 billion in tax revenues to the state purse but Hochul has effectively left the asset on the table.
https://readwrite.com/new-york-contributes-over-37-of-all-us-sports-betting-tax/