The first year of mobile sports wagering in New York was a success. According to the state, more than $709.2 million dollars in taxes was collected on such bets, a figure that leads the nation. An additional $200 million in licensing fees has been collected, leading to a total of more than $909 million in revenue, most of it to be used for education.
“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.”
According to GeoComply, a software firm used by sportsbooks to ensure geolocation requirements, more than 3.8 million unique player accounts have been created since its launch in January of 2022, conducting over 1.2 billion transactions.
The one-year anniversary of mobile sports wagering in New York State was last Sunday, January 8, 2023. Through January 7, the total mobile sports wagering handle reached $16,595,732,482 and generated a total net revenue to education of $709,247,358.
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.
Every Friday, the NYS Gaming Commission publishes weekly mobile sports wagering reports from all of its operators online here.