NY State tax revenue surpasses $740M via mobile sports betting
Since January, mobile sports wagering has become official in New York, and the state has surpassed $740 million in generating tax revenue. New York has become the highest revenue-generating state in the nation.
New York governor Kathleen Hochul and her team said some funds would be used to support schools, gaming programs, and sports.
The American Gaming Association reported 18% of American adults lined up to wager in NFL 2022, showing a 3% hike from the previous year and over a 40% increase from NFL 2020 season. This increased participant contemplates the expansion of the rapidly growing online sports betting world. Wagering enthusiasts must keep track of the best sports betting sites to get updates before they start wagering.
New York has now become one of the online legal sports betting states among 32 states across the nation. NY has spotted around 985 million online bets to be placed till now. Some game enthusiasts and sports fans said that this wagering helped them with a different approach to getting involved in the game.
However, there are several concerns regarding the legalization of online or mobile sports betting as it gives rise to a very strong sensation among different individuals. However, according to the National Council on Problem Gambling, about 2 million adults in the US suffer from this intense impulse to gamble and have effects like irritation when they cannot gamble.