New York State has collected over half a billion dollars in mobile sports wagering taxes since the beginning of the year.
Governor Kathy Hochul announced that the $542 million collected far surpasses every other state in the nation.
An additional $200 million in licensing fees has also been collected, generating a total of more than $740 million in revenue, most of it to be used for education.
New York State set a record of $73 million in mobile sports wagering tax revenue in September, the most generated by any state to date, breaking its own record of $63 million set in January. For context, according to reports, the highest monthly mobile sports wagering tax revenue generated outside of New York is Pennsylvania in November 2021 at $19 million.
According to GeoComply, a software firm used by sports books to ensure geolocation requirements, more than 11.3 million unique player accounts have been created since January, conducting nearly 985 million transactions.
The net revenue that will go to education is $527 million. For Fiscal Year 2023 and annually thereafter, revenues from mobile sports wagering are distributed as follows: $5 million to fund sports programs for underserved youths, $6 million to fund problem gambling education and treatment, and the remaining majority to education aid.
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