Kathy Hochul
The launch of mobile sports wagering has brought in nearly $2 billion dollars in the first month of operations in New York State.
Governor Kathy Hochul said in an announcement that this is more than any other state has ever reported. She said it will generate more than $70 million in tax revenue for New York State and provide funds to be allocated toward programs that support education, youth sports, and more.
Mobile sports wagering began in New York State on January 8, 2022; with more than $1.98 billion in wagers taken in. The total Gross Gaming Revenue was over $138 million and, at a 51% tax rate for the State, these wagers brought more than $70.6 million in tax revenue.
According to State law, tax revenue generated by the mobile sports wagering industry 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.
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