|

New Yorkers waged $16B on mobile sports betting last year

New York gamblers used their phones to wager around $16 billion on sports in the first year of the state’s legal mobile gaming — netting Albany $709 million in taxes.

The state also got some $200 million in licensing fees since betting began on Jan. 8, 2022, making its windfall from the new gambling law the highest in the nation, according to the governor’s office.

Officials said $5 million of the winnings would be used to fund sports programs for kids in need, and $6 million would be spent on gambling addiction treatment — with the rest of the state’s jackpot allocated to fund education.

More than 3.8 million unique player accounts made over 1.2 billion bets in New York — meaning about one in four adult New Yorkers tried their luck online during the last year, according to the state’s statistics.

Gov. Hochul touted the staggering new betting figures Friday.
AP

“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,” Gov. Hochul said in a statement Friday.

 “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.”

Nine mobile sports book operators are currently licensed with the state and required to post weekly betting reports.

Check out our Latest News and Follow us at Facebook

Original Source

Similar Posts

Leave a Reply

Your email address will not be published.