Legal Online Sports Betting Ny

Sports wagering is now legal online in 14 states, including the bordering states of New Jersey and Pennsylvania, while it is only legal in New York at the four Upstate commercial gaming facilities and Native American gaming facilities. Cuomo, who in the past has pushed back on proposals to legalize online sports betting, noted that the state has been losing betting revenue to neighboring New Jersey, which has become a leader in.

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• The New York Racing Association has spoken out in favor of legal sports betting in New York.
• The boost to the economy, especially because of the current state of NY budget deficit, is the biggest push for it to be passed.
• Governor Cuomo believes it will take a constitutional amendment and the deadline for the first passage in 2020 is Aug 3.

NEW YORK – The topic of legal online sports betting in New York has arisen again due to the desperate need for revenue from the effects of the coronavirus pandemic.

Some lawmakers and officials in the racing industry are pushing for legal mobile sports betting in N.Y., though, there is still substantial push back from the state government.

There are lawmakers that believe the large revenue predictions are questionable and Governor Andrew Cuomo thinks that online wagering is a more difficult process that could take years.

Those in the racing industry are speaking out in support of legal online sports betting because of the many benefits it would give operators and New York residents.

“A common-sense approach to legalized sports betting in New York should aim for a level playing field and provide in-state operators like NYRA with a fair opportunity to retain our loyal customers and compete for new ones,’’ saidPatrick McKenna, a New York Racing Association spokesman. “Opening sports wagering to organizations like NYRA would benefit the state economy as a whole—particularly upstate and rural regions —by supporting further job creation and diversifying NYRA’s revenue sources to capture an emerging market.”

In recent years, many have seen that Thoroughbred racing could play a role in online sports wagering in New York and bring more to the betting industry as a whole throughout the state.

Even though there is land-based legal sports betting in the state, commercial casinos have been closed since March and the sports gambling places that are open are not generating much revenue because of low bettor turn out during this time.

The current state budget deficit is $14 billion after the financial hit of COVID-19. Sen. Joseph Addabbo, a Queens Democrat, and Assemblyman Gary Pretlow, a Westchester Democrat both believe that could sway the opposition of mobile sports betting.

Governor Cuomo told lawmakers that a change in state law is not enough to approve online sports betting and voters would be asked in a constitutional amendment referendum.

Lawmakers would have to pass a bill this year and that could set it up for the issue to go before voters as soon as November 2021.

For that to happen, the first passage by the Legislature in 2020 has to be before the deadline on Aug. 3 and no house plans to return to discuss issues before that date at this moment.

News tags: Gary Pretlow Governor Andrew Cuomo New York New York Racing Association Patrick McKenna Sen. Joseph Addabbo

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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.

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.

“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

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.