Legal Sports Betting Ny
Legal sports betting in New York officially went live on July 16, 2019. While online and mobile wagering is not yet legal in NY, legalizing brick-and-mortar sportsbooks was a first step in the right direction. This page will give you all the details behind the bill that made sports betting legal and when you can expect online betting to begin. That said, sports betting has been nominally legal in NY for many years, and in 2019, the first actual brick-and-mortar sports betting lounges opened in upstate NY’s four new commercial casinos. New York finally got its act together. On June 10, 2019, the New York State Gaming Commission approved rules and regulations to allow sports betting in the Empire State. While this news might seem positive, New York residents may need to temper their excitement for the time being. New York State senator Joe Addabbo has been integral towards the discussion of pushing legal sports wagering, particularly mobile betting. Additionally, the proposal would detail that mobile sports.
- Bills have been filed in the New York State Legislature to make mobile sportsbooks legal.
- Governor Andrew Cuomo would like to see a legal mobile sports betting market in New York run similar to the New York Lottery.
- The bills waiting to be heard would have mobile and internet sports wagering platforms run by casinos instead of the lottery format that the Governor is aiming for.
NEW YORK – New mobile sports betting legislation has been filed in New York for the 2021 session but the proposal differs greatly from how Governor Andrew Cuomo would like to see the industry run. Senator Joseph Addabbo Jr. has been trying to get legal mobile sportsbooks in New York for quite some time.
He, along with Assemblyman Gary Pretlow, have come together to file Senate Bill 1183 and Assembly Bill 1257, almost mirror images of the duo’s previous bills on the topic.
There is one glaring difference within this year’s draft, as it allows for two skins per retail location rather than one. That could give New York fourteen different internet and mobile sportsbook operators doing business in the state.
The Bill Breakdown
Since making the announcement that he is behind a legal mobile sports betting market, Governor Cuomo has taken it a step further. Instead of having an industry tethered to the casino and gambling facilities within the state of which there are seven, Cuomo would like to have an industry run through one operator similar to the New York Lottery.
NY SB 1183 and NY A 1257 tie the market to casinos instead. The bills would ask venues to pay a $12 million application fee for an online license. The GGR would come with a 12% tax where 5% of that would be earmarked for problem gambling programs. A royalty fee of 0.2% would go toward the leagues in profits which means a 5% hold by operators could result in leagues receiving a 4% cut of that revenue.
Legal Sports Betting Near Me
The proposal also requires that official league data be used for live in-game wagers offered by sportsbooks. Along with the seven locations that could open two mobile sports wagering platforms a piece, professional sports facilities could partner with casinos to have sportsbook kiosks placed at their venues.
An estimated $79 million of revenue could be made yearly through the legalization of mobile sportsbooks with this measure.
Cuomo’s Vision
Cuomo has a different, more lucrative vision for mobile and internet sports betting applications in New York. If the lottery were to run the market, the state could stand to gain much more revenue. If casinos run sportsbooks, New York would only get a piece of the action, with the bulk of profits going to the operators.
Sports Betting In Ny State
Cuomo believes that the Empire State could see as much as $500 million annually through mobile wagers and kiosks at lottery retail locations.
But this large number would mean that New Yorkers would have to bet about $20 billion a year on sporting events using these outlets to reach that revenue estimate which would be difficult but not unreasonable considering anything is possible in New York.
The sports fans they have there as well as being home to some of the top professional sports teams in the country could make that revenue figure a reality in the future.
“We want to do sports betting the way the state runs the lottery where the state gets the revenues. Many states have done sports betting, but they basically allow casinos to run their own gambling operations. That makes a lot of money for casinos, but it makes minimal money for the state and I’m not here to give the casinos a lot of money,” said Cuomo in a press conference held Wednesday, solidifying his views on the subject of legal mobile sportsbooks for public knowledge.
The New York State Legislature convened on January 6 and will adjourn for the year on June 18.
Legal Online Sports Betting In Ny
News tags: A 1257 Andrew Cuomo Assembly Bill 1257 Gary Pretlow Joseph Addabbo Jr. New York New York Lottery New York State Legislature NY SB 1183 Senate Bill 1183
Legal Sports Betting Nc
Christina has been writing for as long as she can remember and does dedicated research on the newly regulated sports betting market. She comes from a family of sports lovers that engage in friendly bets from time to time. During the winter months, you can find Christina baking cookies and beating the entire staff at Mario Kart…the N64 version of course.