New York mobile sports betting generates billions in tax revenue

Mobile sports betting has become a major revenue driver for New York, ranking as the state’s second-largest gaming revenue source behind the lottery. According to a report by State Comptroller Tom DiNapoli, tax collections from sports wagering increased 78% between fiscal year 2023 and fiscal year 2026, reaching an estimated $1.3 billion. Since its legalization in January 2022, mobile sports bets in the state have totaled approximately $91.2 billion, generating $8.3 billion in tax revenue.

Basketball has emerged as the most popular sport for wagering, with over $9 billion bet in 2025. While football remains popular, basketball led in total wagers. The report noted that the New York Knicks’ championship run caused a temporary dip in gross gaming revenue for betting platforms; because the Knicks were underdogs, high payouts resulted in a $14.4 million net loss for platforms during the NBA Finals month. However, the state still collects a 51% tax on gross gaming revenue.

Other significant trends include a 46% increase in wagering during the World Cup compared to similar periods, which resulted in an $85 million net gain for gaming revenue. The majority of mobile bettors in New York are between the ages of 21 and 44.