report<\/a> by New York Comptroller Tom DiNapoli, released Tuesday, said sports books brought in nearly $1.3 billion from online wagering in the fiscal year that ended on June 31, bringing to the state’s total revenue from mobile betting to $8.3 billion since it was launched.<\/p>\nBut DiNapoli’s report also flagged a corresponding rise in the number of people seeking help for problem gambling, which is being driven in part by access to the largely unregulated prediction markets.\u00a0<\/p>\n
In the previous fiscal year, there were 2,545 calls to the state\u2019s HOPEline, up 8.5% from 2020, according to the report.\u00a0<\/p>\n
“While the legalization of mobile sports betting in New York has boosted state revenues, the rise in problem gambling, particularly among young people, is a major concern,” DiNapoli said. “The rapid proliferation of the prediction markets, which generate significant revenue based on sports activities, only makes it easier to get hooked on these online platforms.”\u00a0<\/p>\n
The report also flagged a “significant” increase in the number of alleged incidents of “underaged participation” in mobile sports wagering accounts, from 54 in 2023 to 1,972 in 2025.<\/p>\n
DiNapoli said he was “encouraged” by the state\u2019s decision to double funding for problem gambling services from $6 million to $12 million, but said that’s “a drop in the bucket compared to the billions being wagered.”<\/p>\n
“We need to do much more to identify how mobile sports betting is impacting New Yorkers and ensure consumers are protected,” he said.\u00a0<\/p>\n
New York has had in-person sports betting at casinos since 2019 and authorized mobile betting a few years later, which began in January 2022.<\/p>\n
Currently, there are nine mobile sportsbooks licensed by the state to take wagers on professional games through websites and apps on users\u2019 smartphones, tablets and other electronic gadgets.<\/p>\n
The state’s sports betting tax rate is currently set at 51%, which has generated nearly $825 million in taxes over the past two years, according to the commission’s data.<\/p>\n
Gov. Kathy Hochul is projecting the Empire State will bring in more than $1.1 million in tax revenue from mobile sports betting in the current fiscal year, which began April 1.<\/p>\n
At least 39 states and the District of Columbia have authorized betting on sports in response to a 2018 U.S. Supreme Court ruling that struck down a federal law prohibiting sports gambling in nearly all states.\u00a0<\/p>\n
Nationwide, wagers collectively hit a record in 2025 of more than $167 billion \u2014 an 11% increase from the previous year, according to the American Gaming Association<\/p>\n
Backers of the wagering say it is raising much-needed tax revenue for the states and local governments and helping eliminate illegal bookmaking operations. Critics say the burgeoning gambling industry fleeces the pockets of working-class Americans and contributes to irresponsible behavior.<\/p>\n","protected":false},"excerpt":{"rendered":"(The Center Square) \u2014 New York\u2019s mobile betting sports books continue to rake in money from the multi-billion…\n","protected":false},"author":2,"featured_media":353834,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[3365,9,11,10,1411],"class_list":["post-353833","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-york","tag-economy","tag-new-york","tag-new-york-headlines","tag-new-york-news","tag-new_york"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/353833","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=353833"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/353833\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/353834"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=353833"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=353833"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=353833"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}