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The Conscience of Thoroughbred Racing

NEW YORKERS WANNA’ BET

BY MARC LAWRENCE, PLAYBOOKSPORTS.COM — Per reports, the sports betting handle for New York State for 2022 was over $16 billion, with over $400 million in wagers placed on college football this season and over $1.3 billion on the NFL since the legalization NY online sports betting. The total NY state tax revenue was $680M. Though they started late with mobile wagering initiated during football the football season, New York’s betting revenues created a state tax revenue of $109M. By comparison, Nevada’s sports betting handle numbers trumped New York in sports betting revenue for 2022, producing an overall handle of $28.6B, which was second to New Jersey’s $33.7B, and just ahead of Pennsylvania’s $18.8B. FYI: New York’s tax revenue generated $695M, which towered over Pennsylvania’s $366M, New Jersey’s $300M and Nevada’s $109M. The vast disparity in state tax revenue was due to the fact that New York charged sports book operators a whopping 51% tax, whereas Nevada charges its sports book operators a 6.75% tax.

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