Published: February 15, 2022

New York generates $70M in revenue in first 30 days of mobile sports betting, state says

New York has generated more than $70 million in tax revenue from nearly $2 billion in wagers during the first 30 days of mobile sports betting in the state, Gov. Kathy Hochul's office announced Monday.

Officials said that is higher than any other state that has legalized it.

"Over the past month, we've seen how mobile sports wagering can be an economic engine for New York, driving significant funding to our schools, youth sports, and so much more," Hochul said in a statement. "As this new industry continues to grow, New York will make sure we have the resources and guidelines in place to make it a success for all."

Mobile sports wagering began in New York on Jan. 8. Since then, more than $1.98 billion in wagers has been taken, quickly overtaking New Jersey as the largest sports betting market. The total gross gaming revenue over the last month was more than $138 million. The state taxes 51% of that. That revenue is required to go toward elementary and secondary education, grants for youth sports programming, property tax relief, and problem gambling prevention treatment and recovery services. 

"With Governor Hochul kicking off mobile sports wagering on January 8th, there is no doubt there is strong interest in online sports betting in the Empire State, which has just set a national record for monthly tax revenue," state Gaming Commission Executive Director Robert Williams said.,state%20that%20has%20legalized%20it.

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