Like It Or Not Sports Betting Helps NYS Collects $401M Taxes In 4 Months
Written by Tariq on October 15, 2024
NFL games have become some of the top events for sports betting, taking in a revenue of more than $11 billion since January of this year. So, for the money that New York State collects in taxes from sports betting companies, where does the money go? A lot of the money goes to funding education. We are just four months into the 2024 to 2025 sports betting fiscal year. The state has already brought in over $401 million in sports betting revenue taxes. That’s a whole lot of money and New York education is getting a big piece of the pie. So far this year, $401 million in tax revenue from sports betting has gone towards education, with almost $900 million last year and over $743 million the year before that. When New York State legalized sports betting, they committed to the tax revenue dollars going towards education.
Source: WHEC-TV
