New York State’s mobile sports wagering program revenues is outpacing other states as well as state budget projections.
According to New York State data, the state has generated more than $302 million in tax revenue from mobile sports wagering since January 8, 2022. That entire amount is directed for education aid, youth sports and responsible gaming programs. Additionally, the ninth and final operator in New York State – Bally Bet – was authorized to accept wagers on July 7, making the Empire State’s latest foray in regulated gaming fully operational.
According to reports, New York has collected more in mobile sports wagering revenue in six months than the total sports wagering revenue—both mobile and on-premises—that any other state has generated over several years. Through May 2022, Pennsylvania has collected $265.6 million in sports wagering tax revenue since November 2018, and New Jersey has generated $237.1 million since June 2018.
In January, New York State projected to collect $249 million in mobile sports wagering tax revenue for 2022 which included $200 million in already-collected license fees.
New York’s mobile sports wagering tax revenue is reinvested into elementary and secondary education and grants for youth sports programming, along with problem gambling prevention, treatment, and recovery services. Additionally, the State has collected $25 million in license fees from eight mobile sports wagering platform providers, totaling an additional $200 million to the State. All of the license fees revenue has already been directed to education.
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