{"id":932,"date":"2023-06-15T06:14:03","date_gmt":"2023-06-15T03:14:03","guid":{"rendered":"https:\/\/xxbet-company.com\/new-york-sports-betting-tax-revenue-tops-1b-in-latest-numbers\/"},"modified":"2023-06-15T06:14:03","modified_gmt":"2023-06-15T03:14:03","slug":"new-york-sports-betting-tax-revenue-tops-1b-in-latest-numbers","status":"publish","type":"post","link":"https:\/\/xxbet-company.com\/pl\/new-york-sports-betting-tax-revenue-tops-1b-in-latest-numbers\/","title":{"rendered":"New York Sports Betting Tax Revenue Tops $1B in Latest Numbers"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_34 counter-flat ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Spis tre\u015bci<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1'><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/xxbet-company.com\/pl\/new-york-sports-betting-tax-revenue-tops-1b-in-latest-numbers\/#Handles_Slump_Tax_Revenue_Jumps\" title=\"Handles Slump, Tax Revenue Jumps\">Handles Slump, Tax Revenue Jumps<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/xxbet-company.com\/pl\/new-york-sports-betting-tax-revenue-tops-1b-in-latest-numbers\/#Similar_Stories_Across_Many_States\" title=\"Similar Stories Across Many States\">Similar Stories Across Many States<\/a><\/li><\/ul><\/nav><\/div>\n<p>Tax revenue from New York online sports betting has officially topped $1 billion. Taxes collected from the state\u2019s online sports betting market hit $1,068,795,916 after The New York State Gaming Commission reported May numbers.<\/p>\n<figure aria-describedby=\"caption-attachment-277473\" data-style=\"width: 694px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-277473\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/06\/Screen-Shot-2023-06-14-at-2.21.26-PM-430x238.png\" alt=\"\" width=\"694\" height=\"384\" srcset=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/06\/Screen-Shot-2023-06-14-at-2.21.26-PM-430x238.png 430w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/06\/Screen-Shot-2023-06-14-at-2.21.26-PM.png 600w\" sizes=\"(max-width: 694px) 100vw, 694px\" title=\"\"><figcaption class=\"text-description\">The Empire State Building, above. The Empire State is raking in revenue from legalized sports betting. (Image: Getty)<\/figcaption><\/figure>\n<p>The Empire State took in more than $77.5 million in taxes last month, bringing current totals where they are today.<\/p>\n<div class=\"callout\">\n<p>New York launched online sports betting in January 2022 and hasn\u2019t looked back. The Gaming Commission releases reports weekly and says gross gaming dollars have never dropped below $149.7 million in any week.<\/p>\n<\/div>\n<p>The sports betting tax rate is 50.9% in New York.<\/p>\n<p>Nevada and New Jersey are the other two states that have collected $1 billion in taxes from sports betting.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Handles_Slump_Tax_Revenue_Jumps\"><\/span><strong>Handles Slump, Tax Revenue Jumps<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Illinois places second in the nation in sports betting taxes. It jumped over Pennsylvania in April. The Illinois Gaming Board reported $14.4 million in April. Sportsbooks are taxed at 17.7% there.<\/p>\n<p><strong>The total handle in Illinois was down slightly for the same month, but was still enough to hit second place with nearly $900 million in total bets.<\/strong><\/p>\n<p>Pennsylvania, Massachusetts, and New Jersey round out the top five in sports betting taxes.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Similar_Stories_Across_Many_States\"><\/span><strong>Similar Stories Across Many States<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The sports betting handle in Maryland dipped 3% to $320.1 million in May. That\u2019s the second-lowest monthly total since online sports betting launched in November 2022. But May was the second-highest tax revenue month with $4.6 million, according to the Maryland Lottery and Gaming Control Commission<\/p>\n<div class=\"callout\">\n<p>In West Virginia, the handle fell for the second consecutive month, but online sportsbooks, with a better win rate, helped sports betting operators generate $3.5 million. The Mountaineer State collected $294,361 in tax revenue, according to the West Virginia Lottery.<\/p>\n<\/div>\n<p>In Indiana, sports betting slumped in May, but tax revenue increased to $3.2 million, about a 14% increase over April. The Indiana Gaming Commission attributes the increase to a jump in hold percentage.<\/p>\n<p>The post <a rel=\"nofollow noopener\" href=\"https:\/\/www.casino.org\/news\/new-york-sports-betting-tax-revenue-tops-1b-in-latest-numbers\/\" target=\"_blank\">New York Sports Betting Tax Revenue Tops $1B in Latest Numbers<\/a> appeared first on <a rel=\"nofollow noopener\" href=\"https:\/\/www.casino.org\/news\" target=\"_blank\">Casino.org<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Tax revenue from New York online sports betting has officially topped $1 billion. Taxes collected from the state\u2019s online sports betting market hit $1,068,795,916 after The New York State Gaming Commission reported May numbers. The Empire State Building, above. The Empire State is raking in revenue from legalized sports betting. (Image: Getty) The Empire State <a href=\"https:\/\/xxbet-company.com\/pl\/new-york-sports-betting-tax-revenue-tops-1b-in-latest-numbers\/\" class=\"more-link\">&#8230;<\/a><\/p>","protected":false},"author":1,"featured_media":933,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/xxbet-company.com\/pl\/wp-json\/wp\/v2\/posts\/932"}],"collection":[{"href":"https:\/\/xxbet-company.com\/pl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/xxbet-company.com\/pl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/pl\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/pl\/wp-json\/wp\/v2\/comments?post=932"}],"version-history":[{"count":0,"href":"https:\/\/xxbet-company.com\/pl\/wp-json\/wp\/v2\/posts\/932\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/pl\/wp-json\/wp\/v2\/media\/933"}],"wp:attachment":[{"href":"https:\/\/xxbet-company.com\/pl\/wp-json\/wp\/v2\/media?parent=932"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/xxbet-company.com\/pl\/wp-json\/wp\/v2\/categories?post=932"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/xxbet-company.com\/pl\/wp-json\/wp\/v2\/tags?post=932"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}