New York Breaks Record for Sports Wagering, Tax Revenues
New York State set a record with $73 million in sports wagering tax revenue in the month of September, more than any other state in the US. The Empire State has now collected more than $542 million in gaming taxes between January and October 30, in addition to $200 million in licensing fees, according to a press release from Governor Kathy Hochul.
The $73 million month of September beat the previous high of $63 million in gaming taxes collected for one month, also set by New York State. Pennsylvania's $19 million in November 2021 was the next highest tax revenue collected outside of New York State.
"The revenue generated from sports wagering will provide critical support to our schools, youth sports, and responsible gaming programs," said Brian O'Dwyer, New York State Gaming Commission Chairman.
Since sports gaming became legal in January, 11.3 million unique New York State resident player accounts have been created generating just under one billion transactions, according to GeoComply a software firm used by sportsbooks to confirm residency and compliance restrictions.
Since January, New Yorkers have wagered the most money on Major League Baseball ($2.6 billion), followed by the NBA ($2.5 billion). Through 10 weeks of the NFL season, wagering totals have reached $1.3 billion, and college football has generated $406 million in wagers.