New York Governor, Andrew Cuomo finally appears to be onboard for legalizing mobile sports wagering in New York.
The sports bettors are rejoiced upon this news as the Governor is likely to pitch in favour of sports betting in his annual State of the State address next week. Cuomo had issued a statement saying legal online betting would “keep millions of dollars in tax revenue here at home” and help would be instrumental in helping New York from recover from COVID-related economic losses.
Cuomo later added that the sports betting would be legalized “the way the state runs the lottery where the state gets the revenues” he also stated that he’s “not here to make casinos a lot of money. I’m here to raise funds for the state. So we have a different model for sports betting”, as reported by CalvinAyre.com.
Notably, New York legalized betting in 2019 but confined it to in-person wagering at four upstate commercial casinos and their tribal counterparts.
Cuomo’s betting plan will require online sportsbooks to partner with a local land-based gaming operator and most of the operators have already acted in advance striking deals with the casino operators in anticipation of the legalization of sports wagering.
While the talks continue, the legal aspects of enabling sports wagering are also being discussed within the legal fraternity.