Do you have a tip for the newsroom, press release, local list of events or digital content to share? Submit it here. Would you like to support our mission? Become a monthly subscriber by visiting patreon.com/fl1.
New York will adopt mobile sports betting as part of the upcoming budget. While this is not new news, it is one of the more exciting parts of the upcoming budget that many hope will benefit the state’s economic prospects.
At the suggestion of Governor Cuomo, the New York State Gaming Commission will launch a call for proposals to select and license a sports operator or sports platform to offer mobile sports betting in New York. This operator or platform must partner with one of the existing licensed commercial casinos. The Commission will also require that any company that operates mobile betting apps take safeguards against abuse and addiction.
“At a time when New York is facing a historic budget deficit due to the COVID-19 pandemic, the current online sports betting structure is an incentive for a large portion of New Yorkers to travel out of state to complete online sports betting or continue to patronize black markets, “said Governor Cuomo.” New York has the potential to be the largest market for sports betting in the US. By legalizing online sports betting, we want to generate millions of dollars in revenue here at home, which is our ability to Rebuilding from the COVID-19 will only strengthen the crisis. “
The sports game market is developing rapidly. In 2018, the US Supreme Court in Murphy v NCAA overturned a federal law that banned most states from authorizing sports betting. Sports betting is now legal online in 14 states, including the neighboring states of New Jersey and Pennsylvania, while only legal in New York at the four commercial gaming establishments in Upstate and Native American gaming establishments. An industry study found that nearly 20 percent of New Jersey sports betting revenue comes from New York residents, costing the state millions of dollars in lost tax revenue.
Would you like to have the latest headlines in your inbox every morning? Click here to sign up for our Morning Edition and Sunday Insight newsletters. They aim to keep you updated. You can also download the FingerLakes1.com app for Android (all Android devices) or iOS (iPhone, iPad).