By Dan Murphy
On Jan. 13, NY Governor Kathy Hochul announced that the state had collected $909 Million in revenues from $16 Billion in wagers made for mobile sports betting. Since that announcement, and after tomorrow’s Super Bowl bets, NY State will be over the $1 Billion mark in revenues collected from Sports bets.
“In just one year, New York has become a national leader in providing responsible entertainment for millions while bringing in record-shattering revenue for education, youth sports, and problem gambling prevention,” Governor Hochul said. “I look forward to another year of delivering top tier mobile sports wagering experiences that generate revenue to enrich the lives of New Yorkers across the state.”
Westchester Assemblymember Gary Pretlow said, “Mobile sports betting generated $709 million in taxes in just one year for essential programs such as Education, Youth Sports, and Problem Gambling related services. This is just the beginning, and I look forward to mobile sports betting generating more revenue for years to come.”
According to GeoComply, a software firm used by sports books to ensure geolocation requirements, more than 3.8 million unique player accounts have been created since launch in January of 2022, conducting over 1.2 billion transactions.
For Fiscal Year 2023 (April 1, 2022 through March 31, 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, with the remaining majority to fund education aid.
