- Three bill proposals to legalize mobile sportsbooks in New York in 2021 are up for discussions in the New York State Assembly.
- Governor Andrew Cuomo believes a bill that he is drafting would see $500 million in annual revenue from legal mobile sports bets in New York and as much as $20 billion in handle each year.
- A mobile sports wagering market has been included in the latest budget proposal in New York, almost solidifying that one of the three bills in question will pass in 2021.
NEW YORK – New York has tried for years to get mobile sports betting legalized and 2021 looks like a favorable year for it to finally happen.
This news comes as no surprise as Governor Andrew Cuomo has not only endorsed the industry for the first time in his political career, but has also spoken of a proposal he would like to see. However, the bill moving forward in the New York State Assembly is not one that Cuomo has had a hand in.
Mobile Sportsbooks In New York Placed In State Budget Proposal
New York legal sports betting has been a retail-only business since 2019. But those locations are limited to upstate New York, leaving sports bettors in all other parts of the state at a loss of options for gambling on sporting events.
Mobile sports wagering is something that would fix this problem while offering a new revenue stream to the state budget which is why the market has been included in the new House budget proposal bill in New York as of Saturday, for the upcoming fiscal year.
Assembly Bill 1257 had its last approval in January. This bill has a mirroring proposal in the Senate with Senate Bill 1183.
These two bills have passed their introductions in the Assembly and are awaiting their next hearings. Under each piece of legislation, New York would allow two mobile sports betting operators per land-based sportsbook, totaling 14 mobile apps at a fee of $12 million per license.
Revenue at retail locations would remain at 8.5% while mobile sportsbooks would see a rate of 12% on all GGR. Sports betting kiosks would also be made available at OTB locations when these businesses partner off with a casino in the state.
Should either one of these bills pass, it would still require the signature of Governor Cuomo to legalize the industry.
What’s Next For New York?
It’s a telling sign that lawmakers expect to make one of these three bills legalized with the inclusion of the mobile sports wagering market to the budget proposal of New York. While these two bills are the ones being discussed most, there is still the bill that Governor Cuomo has on his mind.
The bill that Cuomo would like to see pass has not yet been formally proposed to the Assembly. His vision differs from these two other bills because he would like a market run by the state so that all profits from mobile sports wagering in New York go to New York and not the casino businesses. The platforms would be run by the state lottery enabling more benefits for the Empire State in terms of funds gained from the market.
The Legislature will adjourn on June 18 for 2021. One of these three bills will almost certainly see passage in 2021 for mobile legal sports betting and at that point, New Yorkers will no longer need to drive across the bridge into New Jersey to access mobile sportsbook platforms to gamble on sporting events.
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News tags: Andrew Cuomo | Assembly Bill 1257 | New York | New York State Assembly | Senate Bill 1183
Christina has been writing for as long as she can remember and does dedicated research on the newly regulated sports betting market. She comes from a family of sports lovers that engage in friendly bets from time to time. During the winter months, you can find Christina baking cookies and beating the entire staff at Mario Kart…the N64 version of course.