(WNY News Now) – New York – New York State celebrates the two-year milestone of mobile sports wagering with a staggering $35.7 billion handle, generating $1.57 billion in revenue allocated towards education, youth sports, and problem gambling prevention and recovery services.
Marking the second anniversary since the launch of mobile sports wagering in New York State on January 8, 2024, the total handle has surpassed $35.7 billion. The state’s tax collection on sports bets has exceeded $1.55 billion, with the primary focus on bolstering education. This remarkable figure shatters national records for mobile sports wagering, positioning New York as the third-highest in total handle nationwide, closely trailing New Jersey and Nevada.
Despite a shorter operational period, New York has secured nine of the top ten all-time U.S. monthly sports wagering handles. GeoComply reports over 5.6 million unique sports betting accounts and 2.6 billion transactions since the January 2022 launch.
The substantial revenue generated is earmarked for critical sectors, including $5 million for underserved youth sports programs, $6 million for problem gambling education and treatment, with the majority allocated to furthering education aid.
Leave a Reply