Does NY get more revenue from weed or sports betting?

What’s happening? By 2025 New York is expected to get 100% more revenue from sports betting than from cannabis.

Why is this important? The state comptroller estimates that this year legal cannabis will bring in about $20 million in tax revenue this year and online sports betting will bring in $99 million, a whopping difference of 395%. But cannabis will get a later revenue start, so the comparison isn’t exactly equal.

How will this be important? Sports gambling was legalized in NY within the state budget a tool that other states could pick up on soon. There remain plenty of states that have legalized neither of these streams of revenue.

Forbes | Mobile Sports Betting To Bring New York State 100% More In Tax Revenue Than Cannabis