Ny Mobile Sports Betting

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  • New York Governor Andrew Cuomo wants mobile sports betting to be run through the state, just like the lottery system.
  • Cuomo believes that mobile sports betting could bring New York $500 million in tax revenue.
  • The New York Senate Committee on Racing, Gaming, and Wagering passed bill S1183 on Tuesday.

NEW YORK – New York Governor Andrew Cuomo has doubled down on his assertion that the mobile sports betting market when legalized should be run by the state. This comes on the heels of a budget shortfall in New York due to the COVID-19 pandemic.

Cuomo presented the Fiscal Year 2022 budget for New York and began talking about the potential of sports betting in New York at the 22-minute mark in his address.

Cuomo had previously contended that the legalization of online sports betting would require a constitutional amendment and remained opposed to mobile wagering for much of 2020, a position that.

Presenting my Fiscal Year 2022 Executive Budget. Watch live: https://t.co/ohJa3H2tdO

— Andrew Cuomo (@NYGovCuomo) January 19, 2021

Cuomo wants New York to get most, if not all of the revenue generated from legalizing mobile sports betting and stated he prefers the market be run similar to the lottery system.

  1. Jan 06, 2021 After watching New Jersey generate over $930 million in legal sports betting in November, 90% coming online, New York Governor Andrew Cuomo is reportedly ready to go all in. In a statement to the.
  2. If mobile sports betting (placing wagers through electronic devices) comes to New York, Gov. Andrew Cuomo wants it to be run like the state Lottery. That means it would be operated by the state,.

“The second alternative is to have the people of the state of New York get the profits from mobile sports betting and run it the way we run the state lottery, which is its state-run and the state gets all the revenue. I’m with the people. And I believe the people of the state should get the revenues. This is not a moneymaker for private interests to collect just more tax revenue. We want the actual revenue from the sports betting.”

Cuomo’s proposal could cause a political stalemate between him and state legislatures down the road, which could hold up the process of bringing mobile sports betting to New York.

Before Cuomo made his address, the Senate Committee on Racing, Gaming, and Wagering passed Senate Bill S1183.

The bill proposed by (D)Sen. Joseph Addabbo of the 15th State District would legalize mobile sport betting in New York by having online sportsbook operators tether to a retail casino. This format is used throughout the country and is used in New Jersey.

This bill will now go to the desk of New York’s Senate finance committee headed by (D)Sen. Liz Krueger, who has opposed sports betting before.

New York is missing out on millions in revenue simply by not legalizing mobile sports betting. According to a press release by Governor Cuomo, nearly 20% of New Jersey’s sports betting revenue comes from New York residents.

Nonetheless, with one of the largest populations in the US, New York could be a behemoth in the burgeoning US sports betting market, and lawmakers in the state know this.

“New York has the potential to be the largest sports wagering market in the United States, and by legalizing online sports betting we aim to keep millions of dollars in revenue here at home, which will only strengthen our ability to rebuild from the COVID-19 crisis,” saidCuomo in a release just two weeks ago.

Although it seems like New York legalizing mobile sports betting is inevitable, the process is still far from over until the lawmakers in the Empire State can agree on who gets the revenue and how many operators will be in the market.

Cuomo doubling down on his stance sets the stage for what could be a lengthy political battle.

News tags: Andrew Cuomo mobile sports betting New York Online Sports Betting Sen. Joseph P. Addabbo Sen. Liz Krueger

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Coming from a strong background of writing, Robert writes stories that not only inform the reader but introduce them to new perspectives about topics they may already know. When not pumping out content Robert enjoys playing NBA 2k, and watching any sports that are on TV.

So what’s the holdup, New York?

With the Aug. 12 deadline long past for the state gaming commission to pick the winning bid to conduct an NY sports betting study, Sen. Joseph Addabbo Jr. recently met with executive director Rob Williams to get an explanation for the delay.

Addabbo, who previously told Legal Sports Report that four companies answered the RFP, indicated that the commission’s inaction could be an indication that commissioners weren’t satisfied with the bids and wanted to give time for other applicants.

“My expectation based on our conversation is the selection will be made soon, which will only make it a couple weeks late,” Addabbo said.

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He compared the situation to NY’s annual struggle to meet deadlines for the state budget. The legislative branches and governor prefer to have the budget done well more than done on-time.

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“If there’s a credible entity out there saying it would like to submit a bid but can’t because it can’t hit the deadline, the commission doesn’t want to limit a credible bidder from being able to submit something,” Addabbo said. “If the industry was told the deadline moved a little bit in order to get a credible bidder to submit an application, I think that’s the right thing to do.”

Study dates likely to be pushed back

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The NY sports betting study was to begin September 1, which won’t happen after the delay in choosing the bid. It will also make it difficult for the chosen company to hit aggressive targets of November 29 for a first draft and December 31 for the final report.

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Addabbo isn’t concerned that these deadlines could be missed.

“I think deadlines are ambiguous little items and timeframes,” Addabbo said. “We’re not talking about blowing past a deadline by months or even a year. If we’re going to go past a deadline by a couple of weeks to get a better study, I’m with that. Picking the right entity to do the survey is a better decision than just hitting a deadline.”

Senator optimistic about impact on NY sports betting

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Addabbo led the way for the Senate to pass a bill that would have allowed New York’s upstate commercial casinos to offer mobile sports wagering and serve as hubs for affiliates located in other regions of the state.

The mobile NY sports betting bill went nowhere with the Assembly and Gov. Andrew Cuomo. Addabbo hopes they are swayed by the data presented in the study.

“Whether it’s used in the budget or post budget, this study hopefully can be the foundation to make good decisions, credible decisions, positive decisions in regards to gaming in our state,” Addabbo said. “We’re really optimistic about this study and what it can do for revenue, education funding, future job growth and maximizing our potential in all facets of gaming.”

The study also could lead to:

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  • Putting lottery offerings online
  • Approving three additional casinos closer to New York City
  • Expanding VLT and off-track betting facilities
  • Changing the tax rate for commercial casino games
  • Putting other forms of gambling online

“What we on the committee are looking for is a blueprint for consistency and maximizing the potential of gaming in our state,” said Addabbo, who chairs the Senate Racing, Gaming and Wagering Committee. “This study, if done correctly, really could be beneficial to the rest of our state.”

Lawmaker provides needed guidance

Addabbo mentioned that he discussed a few other concerns with Williams. He said that fourth-quarter numbers aren’t typically the strongest for gaming because of the holidays.

Mobile

He heard back that the study might go into the first quarter of 2020, a postponement of its scheduled due date.

Addabbo emphasized the importance of making the study cooperative with the industry so that stakeholders will provide accurate data.

“I will continue to stress upon industry leaders to weigh in with the Gaming Commission,” Addabbo said. “In my conversation with Rob, I reminded him that myself, my staff and the committee are ready to help to further this study along in any way we can.”