Good Question: How does NY split sports betting revenue?

ROCHESTER, N.Y. (WHEC) — Let’s answer a good question about all the millions upon millions of dollars from mobile sports betting.

A viewer asked me “now that sports betting is legal in NY and you reported that the tax revenue is in the millions, where is this money going and for what purpose?”

For starters, mobile sports betting as we know is massive in New York. In the first five months since it went live in January, the total tax revenue brought in was nearly $270 million.

Where does it go? How is it all split? The state says:

"New York’s mobile sports wagering tax revenue will be reinvested into elementary and secondary education and grants for youth sports programming, along with problem gambling prevention, treatment, and recovery services."

When you break it down even further, each year the gaming commission says:

• $6 million of net revenue to education shall be distributed for problem gambling education and treatment purposes.
• $5 million of net revenue to education shall be distributed for a youth sports activities and education grant program for the purpose of providing annual awards to sports programs for underserved youth.
• The remaining majority goes to education aid.

All of these sports betting revenue reports are public. They are posted every month and also weekly on the gaming commission’s website. There’s a breakdown of all the money bet on games and what the state keeps.

If you have a question you want Brennan to answer, e-mail him at GoodQuestion@WHEC.com.