New York State Sports Betting At Record High

New Yorkers love their bad habits! We have spent almost $40 billion on one particular vice, ranking number one for spending on it. I always hear people complain about how so many things are illegal in New York, but one vice was legalized in 2019.

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New York State Legalizes Sports Betting

In June 2019, the New York State Gaming Commission approved in-person sports betting at four upstate casinos. In April 2021, the New York State Legislature passed a bill to legalize sports betting in New York State. Online sports betting officially launched in New York on January 8, 2022, according to Sports Illustrated.

The tax revenue generated from New York's mobile sports betting will be used for elementary and secondary education, grants for youth sports programming, problem gambling prevention, treatment, and recovery.

New York Sports Betting Is #1 In America

According to Oddspedia, "In New York, the online sports betting market has been active and competitive since its launch in January 2022, following the earlier introduction of retail sports betting in 2019. The state hosts several leading sportsbook apps, including FanDuel and DraftKings, BetMGM, and the newly introduced Fanatics. Despite the high tax regime, New York has quickly become a key player in the sports betting industry."

Not including sportsbook operations at tribal casinos, New Yorkers have spent $37.6 billion on sports betting. In 2023, the total handle was more than half that amount at $19.2 billion. This year is already off to a good start with $2 billion spent and revenues of $211.7 million generated. New York is ranked #1 for money spent on sports betting. New Yorkers have generated $1.7 billion in revenue making NY the biggest revenue state in the U.S.