Where Does Record-Setting New York Sports Betting Tax Revenue Go?

Written By Eli Hershkovich on June 3, 2022
New York sports betting

On January 8, New York became state No. 18 to legalize sports betting. Less than five months later, New York sports betting apps and websites have generated more than $267 million in tax revenue. That’s more than any other state in handful of years. So what will the state do with this NY sports betting tax revenue windfall?

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NY Sports Betting: Investing In Long Haul

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New York Governor Kathy Hochul noted on Monday that a chunk of the New York sports betting tax revenue would be put into elementary and secondary education, as well as grants for youth sports programming. Plus, the additional $200 million collected from eight mobile sports wagering platform providers’ license fees will be directed towards education as well.

“In less than half a year, New York has become a leader among states in implementing successful gaming policies, with hundreds of millions of dollars going to important programs that will improve the lives of all New Yorkers,” Hochul said. “I am committed to upholding responsible and effective gaming policies that will move the industry forward and continue to drive our state’s economic growth.”

The other slice of the New York sports betting tax revenue will go towards problem gambling prevention, treatment, and recovery services. Chinazo Cunningham, the New York State Office of Addiction Services and Supports (OASAS) commissioner, acknowledged the importance of holding events to preach responsible tactics while engaging in sports wagering.

“OASAS stands ready with services and supports for New Yorkers struggling with problem gambling,” Cunningham said. “The added revenue from mobile sports betting will allow OASAS to further enhance prevention, treatment, recovery, and harm reduction services for individuals or their family members who experience harms from gambling.”

Related: Phil Mickelson Gambling Addiction Triggered $40 Million in Losses

Ways To Get Help In NY If You Feel You May Have A Gambling Problem

If you or someone you know has a gambling problem, the New York State Gaming Commission possesses the resources to assist. For starters, the OASAS-owned HOPEline is available 24/7 for problem gambling or chemical dependency. Call 877-846-7369 or text HOPENY (467369) to get started.

There’s a responsible gaming quiz available, too. If you recognize that New York sports betting is detrimental in your life, you may request for voluntary self-exclusion from certain New York gaming facilities. Click the form here, and mail it to the address below after completing it.

New York State Gaming Commission
Director of Education & Community Relations
PO Box 7500
Schenectady, New York 12301-7500

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Eli Hershkovich Avatar
Written by
Eli Hershkovich

Eli Hershkovich is a lead sports betting writer with TheLines and Catena Media, formerly with Audacy and The Action Network. His goal is to provide you with data and information to lead you to winning bets. Eli is an avid college basketball gambler — among many other sports — and still hasn't forgiven Virginia for ruining his 2018-2019 Texas Tech futures.

View all posts by Eli Hershkovich