News10NBC Investigates: What does New York’s sports betting boom mean for taxpayers?

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Where does mobile sports betting revenue go?

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ROCHESTER, N.Y. — New York has emerged as the online sports betting capital of the world with the state setting a national record by racking up $2.3 billion in bets in October alone.

Football remains the most popular sport among New York gamblers, who enjoy placing bets both before and during games.

“I’m not necessarily convinced it’s changed the way that people have viewed sports overall because you had fantasy sports that were played as well,” Robert Williams, executive director of the New York State Gaming Commission, recently told News10NBC Investigative Reporter Jennifer Lewke. 

But unlike fantasy sports, online betting allows for micro-bets during live action, which has seen a surge in activity. “What’s going to happen during the quarter, what’s going to happen relative to a certain aspect during the game itself,” Williams explained, highlighting the growing trend.

In 2024, New Yorkers wagered nearly $23 billion via licensed mobile sports betting, which is taxed by New York State at a rate of 51%.

“About 80% of the revenue that comes in goes toward public education, the rest of it is broken down in a variety of different ways,” explains Williams.   

This resulted in $1.1 billion being allocated to education, making up about one-fifth of the state’s total gambling revenue, the rest came from casinos, horse racing and the lottery. 

Despite the influx of cash, the gaming revenue seems to be replacing what the state would have otherwise contributed from its general fund.

Additionally, $6 million is set aside annually for problem gambling education and treatment, with another $5 million in grants for youth sports programs in disadvantaged communities.

So far, Monroe County has received $183,000 to funnel out to local sports programs.  Ontario County has received $34,000; Wayne County, $29,000; Livingston County, $25,000; Genesee County, $22,000; and Orleans County, $18,000.

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