New York State legislators have proposed a measure to make sports wagering legal. The proposal would permit gambling halls to provide mobile sports betting. The proposal would also permit other locations, such as athletic arenas and off-track betting establishments, to take part in the market as partners of casinos. The proposal would impose a $12 million charge to operate within the state, in addition to a 12% levy on total earnings. The proposal would authorize a maximum of 14 brands in the marketplace. The measure was put forward by Senators Joseph Addabbo and Assemblyman Gary Pretlow. This is a significant advancement for sports betting in New York State.
Sporting event wagers will be classified into three groups. The initial group of bets will hinge on the conclusive result of the sporting event. The subsequent group will encompass all bets placed during the game that are not associated with the final score, whereas the third group will cover any wager types not included in the initial two.
Furthermore, a 0.2% levy will be imposed on sports betting wagers, with the proceeds being allocated back to sports organizations as a royalty fee. In-game betting will only be permitted when utilizing official league data.
Adabo’s SB1183 has been presented to the Senate Racing, Wagering and Gaming Committee, while Pretlow’s A1257 is presently in the Assembly Racing and Wagering Committee.
The proposition stands in contrast to plans put forth by Cuomo earlier this week, which followed reports that he would be abandoning his long-held opposition to mobile betting.
The governor had previously asserted that a constitutional amendment – and approval through a referendum – would be required to authorize the channel in New York.
Read the complete story on iGB North America.
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