Last week, Governor Andrew Cuomo abruptly reversed his mobile sports betting bill to the state senate and assembly. 4hi5l
The bill, s1183 (a1257 in the assembly) eschews Cuomo’s desired lottery model, instead favoring a casino-run sportsbook landscape in New York.
NY Mobile Sports Betting Bill Details 2l4o9
Addabbo is no stranger to sports betting legislation. The State Senator has introduced similar bills in 2019 and 2020, but both efforts stalled and never saw the light of day. But after Cuomo’s change of heart, Addabbo and Pretlow’s bill aims to bring revenue to the Empire State economy.
S1183 and sportsbooks in New York with a 12% tax on gaming revenue. The 12% rate is a notch up compared to the state’s 8.5% tax rate on in-person sports betting. Additionally, the bill sets forth a requirement that sportsbooks use official league data to provide live bets. That’s attached to a 0.2% royalty fee.
Currently, both bills are in committee. S1183 is with the Senate Racing, Gaming, And Wagering Committee. A1257 sits with the Assembly Racing and Wagering Committee.
Will It ? 684h5w
As of now, it’s really too hard to tell whether Addabbo and Pretlow’s bill will bring mobile sports betting to New York. In our recent interview with Senator Addabbo, he cited myriad reasons for New York to allow mobile sports betting using the casino model. Namely, he believes it will bring much-needed budget relief to the state.
If Governor Cuomo has his way, though, the Empire State will offer a single license paired with a New York Lottery partnership, effectively bringing a sports betting monopoly to the state.
There’s no way to tell which route the state will take. Instead, expect an intriguing year for New York as legislators and the Governor duke it out over the state’s path to online sports betting.
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