New York state’s mobile sports wagering program has brought in more revenue in its first six months of operation than the state Division of the Budget’s initial projections, Gov. Kathy Hochul’s office said Friday.
State data shows that New York garnered more than $302 million in tax revenue from mobile sports betting since the program’s legal inception on Jan. 8.
“In just six months, New York has become a leader among states in implementing successful gaming policies, with hundreds of millions of dollars going to important programs that will improve the lives of all New Yorkers," Gov. Hochul said in a statement. "The recent launch of New York's final sports wagering operator will provide key revenue for education, youth sports programs, and problem gambling support. I look forward to continuing to enact responsible gaming policies that provide exciting entertainment for New Yorkers of legal age - all with important safeguards in place to help those who need it."
The governor’s office also said the state has collected more in mobile sports wagering revenue in six months than the total sports wagering revenue — both mobile and on-premises — that any other state has generated over several years.
“Thanks to Governor Hochul's leadership, New York State has established itself as the leader in sports wagering in only six months. The numbers and timeline clearly indicate that New York's model successfully harnessed the excitement of sports wagering and continues to maximize its potential,” said state Gaming Commission Executive Director Robert Williams.
Mobile sports betting legalization was passed by state lawmakers and signed into law by then-Gov. Andrew Cuomo in April 2021. Revenue from the outset earlier this year has exceeded expectations. The money gathered funds education aid, youth sports and other gaming programs.