Legislative analysts had projected $21 million in its first full fiscal year. Through February, mobile sports betting had generated $661 million of tax revenue for education.Ĭonnecticut received less than $20 million in sports betting taxes in the first 16 months since wagering began in October 2021. Budget officials originally projected that mobile sports betting would generate $357 million in state tax revenue for the 2023 fiscal year, which ends March 31. New York charges a 51% tax on revenue from mobile sports betting - a far higher rate than other states - with most revenue going to education. In the first month, more than $1.6 billion was wagered through online sports betting, compared to just $15 million through in-person sports bets at casinos.
Betting boomed when the state began allowing people to make sports bets through cell phones and computers in January 2022. New York began allowing sports betting in 2019, but only in person at four upstate casinos, limiting the market. Mike DeWine is now proposing to double the tax rate on sports betting.
Whereas some states started with limited in-person sports betting and gradually added mobile apps, Ohio began more aggressively - simultaneously launching numerous mobile options and retail locations.
