The New York State Gaming Commission announced on Monday that the state earned $70.8 million in taxes from sports betting in April, positioning it to become the first state to reach $1 billion in tax revenue since the post-PASPA era began.

The key driver behind New York’s milestone is the 51% tax rate imposed on mobile operators’ adjusted gross revenue. If the weekly handle and revenue figures continue as usual, the state could achieve this feat by the week ending May 14. Since July 2019, when the state accepted its first wagers, New York has collected approximately $983.5 million in state taxes. Mobile betting, which launched in January 2022, accounts for nearly $979.3 million of that total, as per NY.bet.

April’s substantial amount propelled the national tax revenue from sports betting in the post-PASPA era to over $3 billion.

In April, New York recorded a handle of $1.55 billion, marking the ninth time in 16 months, during which mobile wagering was available, that it surpassed $1.5 billion. The revenue fell just short of $139.3 million, resulting in a solid hold of close to 9%. Although the figures were lower than those of March, the handle increased by 5.7% compared to April 2022. Revenue saw a significant rise of 31.9% from the previous year, with this April’s win rate being 1.5 percentage points higher than in 2022.

April’s performance also secured New York’s position as the third highest state in terms of handle post-PASPA, with an amount nearing $23.3 billion. Only New Jersey ($36.7 billion) and Nevada ($31.9 million) have higher figures. During May, New York will achieve another milestone by joining New Jersey as the only states to surpass $2 billion in all-time operator revenue. Currently, New York is less than $30 million away from reaching this threshold.

FanDuel has consistently contributed at least 48.9% of the mobile revenue every month in 2023. In April, it reached 51.1%, generating nearly $71 million. With an 11.3% hold, it achieved its highest rate since November, and if it can secure $63.5 million, FanDuel has the opportunity to reach $1 billion in all-time revenue during May.

From the beginning of the year until April, FanDuel has accumulated approximately $286 million in revenue, a remarkable improvement of 65.2% compared to the same period in the previous year. The year-to-date win rate for FanDuel in New York stands at 10.7%, which is more than 3.3 percentage points higher than in 2022.

DraftKings also experienced a successful April, reporting $44.9 million in revenue from accepted wagers totaling $516.4 million, resulting in an 8.7% hold. It accounted for 32.4% of mobile revenue, the second-highest percentage achieved in New York, trailing only the 36.4% recorded in February 2022.

Among the three books that did not reach $10 million in handle–WynnBET, Resorts World, and Bally Bet–all had holds below 5%. Resorts World was the most affected, as it only generated $71,358 from a record handle of $7.9 million, resulting in a meager 0.9% hold. Bally Bet’s performance was slightly better at 1.3%, retaining $28,731 of the $2.3 million in accepted wagers.

BetRivers also faced challenges as its win rate dropped to 1.6%, earning it less than $804,000 from $49.1 million wagered. This marked the first time BetRivers failed to reach $1 million in monthly revenue, experiencing a decline of 77.6% from its record of $3.5 million in March.

Caesars Sportsbook ($185.3 million) and BetMGM ($126.7 million) were the other operators with handle figures exceeding $100 million. Caesars was the third and final book to achieve eight-figure revenue, totaling $12.8 million. While BetMGM’s revenue crossed $7.1 million, it was still 26% lower than its record winnings of $9.6 million in March. The win rate of 5.6% was 2.3 percentage points lower as well. PointsBet faced a 28.5% decrease in handle, but its revenue rose by 5.2% to $1.7 million, with an 8.3% win rate that outperformed March by 2.7 percentage points.

Tioga Downs, the retail sportsbook, suffered losses for the third consecutive month after starting the year on a positive note. It also made history as the first commercial brick-and-mortar book in the state to have three consecutive losing months. Although April was less damaging than February and March, with the public winning slightly over $8,000 from more than $380,000 wagered, Tioga Downs is still down approximately $89,500 for the first four months of the year.

In summary, at least one of New York’s four retail sportsbooks recorded monthly losses for the fifth consecutive month. However, the total handle for the first four months of the year reached close to $30 million, resulting in revenue of $1.8 million–a nearly four-fold increase compared to the same period in 2022.