Mobile sports betting brought in $909 million in New York in 2022, a Troy record

ALBANY, NY — To mark the one-year anniversary of mobile sports betting in New York, Gov. Kathy Hochul recently announced that the state has collected more than $709.2 million in taxes on such bets, a number that leads the nation.

According to a press release from the governor’s office, it took in an additional $200 million in royalties, generating a total of more than $909 million in revenue, most of which was used for education.

“In just one year, New York has become a national leader in responsible entertainment for millions while generating record-breaking revenues for education, youth sports and problem gambling prevention,” said Hochul. “I look forward to another year of delivering premium, revenue-generating mobile sports betting experiences to enrich the lives of New Yorkers across the state.”

“Thanks to Governor Hochul’s leadership and the implementation of smart and responsible gaming policies, New York continues to break revenue and betting records. As we enter the second year of mobile sports betting in New York State, the Gambling Commission will continue to ensure that such wagers are conducted in a safe and responsible manner,” noted Brian O’Dwyer, Chairman of the New York State Gambling Commission.

“OASAS appreciates the ongoing partnership with the Gambling Commission to educate the public about responsible gambling and provide resources to those who need them. The additional revenue generated will help ensure we have a robust system of programs and services to meet the needs of individuals, families and communities across the state,” added the New State Commissioner for Addiction Services and Support York, Chinazo Cunningham.

According to GeoComply, a software company used by sportsbooks to ensure geolocation requirements, more than 3.8 million unique player accounts have been created and more than 1.2 billion transactions completed since launch in January 2022.

The one year anniversary of mobile sports betting in New York State was Sunday January 8th. As of January 7th, the total amount of mobile sports betting reached $16,595,732,482 and generated total net revenue for education of $709,247,358.

For fiscal year 2023 (April 1, 2022 through March 31, 2023) and annually thereafter, mobile sports betting revenue will be allocated as follows: $5 million to fund sports programs for underserved youth, $6 million to fund education and Addressing Problem Gambling, with the remaining majority to fund educational assistance.