10 states that make the most tax revenue from commercial betting

Wpadington // Shutterstock – 2021 tax revenue: $1.1 billion – 2020 tax revenue: $495.2 million – Year-over-year change: 121.6% Sports betting has been legal at New York’s commercial casinos since 2013, but it was often more convenient to go to neighboring New Jersey for sports wagering. Today, the state is among the United State’s most significant sports markets, with New York City representing a rapidly growing sector. The first in-person sportsbooks were launched in New York in 2019. Nine online sportsbooks were launched in 2022–each paid 51% of revenues to the state in taxes in 2022. The state generated more than $909 million in revenue in its first year of legal mobile sports betting, with more than $16 billion wagered. All betting on in-state collegiate games and events, including player prop bets, is prohibited. #1. Pennsylvania George Sheldon // Shutterstock – 2021 tax revenue: $2.0 billion – 2020 tax revenue: $1.2 billion – Year-over-year change: 69.8% The home of the Pittsburgh and Philadelphia sports markets holds the #1 spot for tax revenue from sports betting. The die-hard nature of Steelers, Eagles, 76ers, Penguins, Flyers, Phillies, and Penn State fans helps the state secure such high revenue in gambling taxes. Pennsylvania also has one of the highest tax rates, at 36%. Online sports gaming came to the state in 2019, a year after retail sportsbooks opened. Many of the top online sportsbooks have a presence in the state. There are few restrictions on sports gambling, but it is not legal to place specific prop bets on individual players’ statistics. Users must be 21. This story originally appeared on OLBG and was produced and distributed in partnership with Stacker Studio.