Lawmakers in New York are continuing efforts to rework the 51% tax rate for sportsbooks. The bill would also increase the number of sports betting operators in New York. New York has benefited greatly from the 51% tax rate, taking in $163.6 million in taxes … Read more
Assemblyman Gary Pretlow introduced an amendment that would cut sportsbooks’ effective tax rate from 51% to 25% by 2024; Sen. Joe Addabbo presented its sister amendment in the Senate. The amendment would increase the number of online sportsbook skins to cut the tax rate, allow … Read more
The New York State Gaming Commission missed the deadline to vote for mobile sports betting. Unless there is a special session, New York legislators will not be able to vote on expanding sports betting until 2022 at the earliest. Lawmakers couldn’t agree on making mobile … Read more
The New York State Legislature has approved two mobile sports betting bills that have moved them out of their first Senate Committee successfully. New York expects to see millions of dollars in revenue should these bills or others like it pass in 2021 that would … Read more
Bills have been filed in the New York State Legislature to make mobile sportsbooks legal. Governor Andrew Cuomo would like to see a legal mobile sports betting market in New York run similar to the New York Lottery. The bills waiting to be heard would … Read more
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 … Read more
