Second to New York in tax revenue was Pennsylvania, which also has a high tax rate of 36%. (New York’s total estimated budget revenue for the 2022-23 fiscal year is set to be about $210 billion.) Bettors in the state wagered a total of $16.7 billion through mobile apps during the market’s first year in operation, according to the New York State Gaming Commission. The state made nearly $700 million in taxes last year, despite predictions that a 51% minimum tax would hinder sports betting in the Empire State. New York, which launched mobile sports betting in January 2022, has become the largest sports betting market in the country. Three of those states raked in more than $100 million in revenue: New York, Pennsylvania and Illinois. In 2022, 27 states brought in a combined $1.5 billion from sports betting. The Super Bowl is increasingly a big deal for states, and that’s because many of them stand to make money off of it. A record 50.4 million adults in the U.S.-roughly 20% of the population-are expected to bet $16 billion on the Super Bowl this Sunday, according to an annual survey from the American Gaming Association.
