New York State Made A Ton Of Money Off Sports Gambling

New York State has reaped the benefits of legalizing online sports gambling in the state.

In 2022, New York State collected millions and millions of dollars in tax money from sportsbooks operating online within the state borders.

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According to her official press release, Governor Kathy Hochul announced that the state collected almost 1 Billion dollars in tax money from sports gambling.

Governor Kathy Hochul today announced the State has collected more than $709.2 million in taxes on such bets, a figure that leads the nation. An additional $200 million in licensing fees has also been collected, generating a total of more than $909 million in revenue, most of it to be used for education.

As stated, most of the money collected will be used to fund education programs. Much of the money collected is used to educate the public about responsible gambling and to provide resources for those who need them.

Some of the money collected is also used for youth programs across the state as well.

As of the press release, there were nine online sportsbooks operating in new York State. You can track their weekly and monthly revenue reports to New York State HERE.

New York State is the number 1 state in the country when it online sports betting. In 2022, over 14 billion dollars were wagered through online sportsbooks in New York.

Of course when it comes to betting on sports, please be responsible. If you need help ot have questions you can call 1-877-8-HOPENY or click HERE.