State collects $401M in sports betting taxes in four months; What’s the money used for? ...Middle East

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State collects $401M in sports betting taxes in four months; What’s the money used for?
source : News10NBC ( Middle East ) () 45
ROCHESTER, N.Y. — NFL games including Buffalo Bills games have become some of the top events for sports betting, taking in a revenue of more than $11 billion since January of this year. So, for the money that New York State collects in taxes from sports betting companies, where does the money go? A lot of the money goes to funding education. We are just four months into the 2024 to 2025 sports betting fiscal year. The state has already brought in over $401 million in sports betting revenue taxes. That’s a whole lot of money and New York education is getting a big piece of the pie. When asked if they knew where the tax revenue from sports betting was going, Lou Murray and Brayden B

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