New York State announces $1bn in funding for education via mobile sports betting

Senator Joseph P. Addabbo Jr., the Chairman of the Senate’s Committee on Racing, Gaming and Wagering has announced that mobile sports betting tax revenue has generated $1bn for education from its January 8 2022 launch through May 31 2023. This is according to the latest report by the New York State Gaming Commission.

Addabbo said, “Having an additional $1bn from our nation-leading mobile sports betting business to help our students get the best education possible is a tremendous milestone.

“We should continue to build upon these solid revenue-generating opportunities in order to make many additional improvements to our state’s gaming ventures and addiction services. I look forward to greater results with the future eventual arrival of iGaming and iLottery in New York.”

Next year. Senator Addabbo has plans to expand upon the state’s gaming accomplishments by bringing more mobile betting to New York State. This includes mobile betting such as with iGaming and iLottery.

Addabbo noted that perhaps equally important to improving education or other credible state funding need, an increased portion of the funds can be used to supplement programs to prevent and address gambling addiction.

New York State’s mobile sports betting provides an additional $6m for problem gambling programs annually. Positive, but noticeably smaller than the portion of the money going towards education.

Addabbo has previously been vocal in his promotion of this topic, notably during Problem Gambling Awareness Month in March.

Addabbo said, “Through the safeguards on the apps, like freezing accounts, reporting and the self-exclusion option our hope is to reach these people before they become addicted and prevent them from the pitfalls of gaming addiction.”

Robert Prendergast

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