New York Set a New Sports Betting Tax Revenue Record

When it comes to New York sports betting news, nothing but positivity has surrounded the project in recent years. More of the same has been showcased this year, as the Empire State has been putting up head-turning numbers. With the high amount of success, history is being made left and right. With that said, New York set a new sports betting tax revenue record and you already know officials are quite happy about this.

According to a report, New York state posted a sports betting tax revenue figure of $36 million from May 6 to May 12. This indeed set the new record for the most tax revenue for a single week, which was awesome to see. So, what led to so many bets? Well, the New York Knicks were in the postseason, the Yankees and Mets were in action for MLB betting, and the NFL Draft wrapped up not long ago, which of course led to several NFL wagers.

All in all, a sports betting handle of more than $500 million was posted for that week too, which led to such a high sports betting tax revenue. Throughout the year, we’ve seen some impressive weeks, but this really took the cake. That week too, the Pacers and Knicks played in three games of their epic seven-game series. New York was fantastic in the postseason, but in the end, they lost to Indiana and the team’s NBA Finals dreams died.

Despite that, the excitement surrounding the Knicks was through the roof, of course including during the historic week. An unreal amount of bets were placed on the Knicks during that time. It was a bit of a disappointment that they weren’t able to win the series, but it doesn’t take away from how great things were for them over the past month. NBA betting as a whole has remained strong, with it looking like the Celtics and Mavericks will be the ones moving on to the Finals.

Yankees betting has been unreal for New York in May

As you might have been able to guess, Yankees betting has been unreal for New York in May. While the Mets have been a bit of a disappointment, people are still rushing in to put money down on them. However, the main headliner has been the New York Yankees, with Aaron Boone’s men looking fantastic. As of this writing, the Yankees are in first place in the AL East, something fans hope can continue for the rest of the season.

Last week, the Yankees were brought back down too early a little bit when they went 2-2 in a four-game series against the Seattle Mariners. On Monday night of that series, the Yankees were up 4-1 heading into the top of the ninth, but they absolutely blew it and Seattle was able to capture a win. The next game, the Mariners also took down New York, which was disappointing to see. However, the Yankees bounced back with two straight wins and then they looked sensational on the road in San Diego.

Against the Padres, the New York bats were unreal. In one game, Aaron Judge, Juan Soto and Giancarlo Stanton all hit a home run in the same inning, which was a dream come true for Bronx Bombers supporters. When these three are on the same page and swinging the bat well, it’s bad news not only for opposing pitchers, but for the rest of the MLB as well. Will these three be able to heat up as the season progresses?

That’s the hope. The Yankees are already the favorites to win the division this year, but that won’t be enough. Fans are hoping that they can go on a deep postseason run and raise their World Series betting odds. Should New York keep playing well, then we could see even more record-breaking numbers come in for the state in the coming months. It will be interesting to see how the year goes, but the Yankees are in a great spot to post a memorable campaign.

NFL betting is about to take off in New York as well

It goes without saying, but NFL betting is about to take off in New York as well. Right now, the Jets, Bill and Giants are hard at work for OTAs. Soon enough, training camp is going to sneak up on us and then the preseason is going to take center stage. Will the three New York teams live up to the hype this year? That’s up in the air, but we’d say the Jets and Bills are the two teams with the best chances to make the postseason. For the Jets, it will come down to Aaron Rodgers and his health.

Rodgers tore his Achilles in the first game of the year last season, which was brutal to witness. He has a bounce-back campaign on his mind. As for the Bills, this is their first year without Stefon Diggs, but Josh Allen is hoping to have a great season regardless. The Buffalo defense is quite strong too, which will surely make a difference here. As for the Giants, it’s expected to be a long campaign for head coach Brian Daboll and his players.

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Peter Lewis

Peter Lewis Jr. comes from Mississippi where he and his family spend their days discussing college football, baseball and basketball. He's written sports journalism for years after studying journalism at a local university. Over time, Peter has cultivated extensive knowledge covering sports betting legislation across the country. He closely tracks the latest regulatory developments and provides key insights into their impacts. Peter also offers sharp MLB betting analysis, leveraging stats and trends to identify value on matchups.