Tax revenue from New York online sports betting has officially topped $1 billion. Taxes collected from the state’s online sports betting market hit $1,068,795,916 after The New York State Gaming Commission reported May numbers.
The Empire State took in more than $77.5 million in taxes last month, bringing current totals where they are today.
New York launched online sports betting in January 2022 and hasn’t looked back. The Gaming Commission releases reports weekly and says gross gaming dollars have never dropped below $149.7 million in any week.
Nevada and New Jersey are the other two states that have collected $1 billion in taxes from sports betting.
Handles Slump, Tax Revenue Jumps
Illinois places second in the nation in sports betting taxes. It jumped over Pennsylvania in April. The Illinois Gaming Board reported $14.4 million in April. Sportsbooks are taxed at 17.7% there.
The Empire State took in more than $77.5 million in taxes last month, bringing current totals where they are today.
New York launched online sports betting in January 2022 and hasn’t looked back. The Gaming Commission releases reports weekly and says gross gaming dollars have never dropped below $149.7 million in any week.
Nevada and New Jersey are the other two states that have collected $1 billion in taxes from sports betting.
Handles Slump, Tax Revenue Jumps
Illinois places second in the nation in sports betting taxes. It jumped over Pennsylvania in April. The Illinois Gaming Board reported $14.4 million in April. Sportsbooks are taxed at 17.7% there.