In only 10 short months, New York State has once again “shattered” tax revenue records in mobile sports wagering with over half a billion dollars.
Through the end of October of this year, the state has collected $542 million dollars in taxes, passing any other state in the country. There was also $200 million in licensing fees collected, bringing a total of $740 million in revenue.
A majority of the revenue will be used for education.
New York State Gaming Commission Chairman Brian O’Dwyer said, “New York continues to lead the nation in sports wagering thanks to Governor Hochul’s enacting of smart gaming policies that deliver real, transformative results for New Yorkers. The revenue generated from sports wagering will provide critical support to our schools, youth sports and responsible gaming programs.”
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.