The first 30 days of mobile sports betting in New York have generated more than $70 million dollars for the state, with nearly two billion wagers made so far.
The number of people betting on sports has increased dramatically in New York since January 8th. Legalized mobile sports betting in New York has already generated nearly $2 billion dollars worth of wagers and tax revenues for the state during its first 30 days.
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
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.Governor Hochul
Mobile sports wagering has taken off in New York, with more than $1.98 billion wagered since it began on January 8th 2022. The total Gross Gaming Revenue was over $138 million, but with a 51% rate for the State it only brought back around 70%.
Under state law, tax revenue generated by the mobile sports wagering industry is required to go towards elementary and secondary education programs as well as grants for youth sport programming. The funds are also used in property tax relief efforts along with problem gambling prevention services such treatment or recovery assistance when needed most!
The Governor has been enthusiastic about the revenue that NY mobile sports betting wagering is bringing into our state. The revenue is increasing every day as more people bet on Sunday’s popular Super Bowl game, which isn’t yet reflected into this number.
The most money ever bet on a single event was laid down during the Super Bowl when some Americans wagered over $600M. These figures will be included in the weekly Mobile Sports Wagering Reports, updated every Friday found here!