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The total taxable gaming revenue from online gaming was $17,726,085 for August, up 6.4% from July ($16,655,426). The state revenue share rose by the same percentage, from almost $3 million to $3.19 million, according to figures from the Connecticut State Department of Consumer Protection.
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The widespread legalization of sports betting has created a new revenue stream for many state governments, but it has also raised concerns about gambling addiction and other societal harms.
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While gambling companies seek out new ways to engage eager young bettors, states profit, via ever-increasing tax revenues. Meanwhile, after fighting betting for decades, leagues and teams have tied themselves closely to it, to increase their profits. The Sixers have a sponsorship deal with Fox Bet. The Eagles have three sports betting partners. Phillies broadcasts feature in-game odds and various wagers through PointsBet. On Phillies pregame shows, hosts discuss whether prop bets could hit.