Legislation that permits online sports betting in New York State moved forward on Monday after overwhelming state Senate approval by a 57-5 vote.
The bill, S17, might be voted on by the state Assembly later this week. In its way, might be a potent Democrat opposed to expanded gambling within the Empire State – Assembly Speaker Carl E. Heastie of the Bronx.
It is also unclear when the measure will be supported by Gov. Andrew Cuomo, a Democrat. Previously, Cuomo stated that allowing on-line sports bets in the state would need amending the state’s constitution.
Staff working for legislators who support the bill expect the Assembly to pass the legislation sometime this week. The Assembly version is getting amended, so it is identical to the Senate bill.
Main sponsor from the proposal, state Sen. Joseph P. Addabbo, Jr. (D, Queens) – who’s chairman from the Senate Committee on Racing, Gaming and Wagering – said in a statement released to the media on Monday he is “delighted … the … Senate has taken this important step towards legalizing sports betting via smart phones as well as other mobile devices.”
He noted how the New York State Gaming Association earlier this month adopted regulations to permit in-person sports betting at 4 upstate casinos. The venues are del Lago Resort and Casino in Tyre, Resorts Globe Catskills in Kiamesha Lake, Rivers in Schenectady, and Tioga Downs and Casino in Nichols. The state’s tribal casinos may also apply for in-person licenses.
It tends to make sense to approve the legislation, Addabbo contends. “Adding mobile wagering towards the mix will go far in capturing revenues that might otherwise continue to flow across the border to New Jersey,” Addabbo said.
Experiences in other states have demonstrated that implementing sports betting without a mobile component leaves these states where people cannot wager with their phones or other devices at a competitive disadvantage,” Addabbo explained.
Earlier, Addabbo stated allowing only in-person sports betting without the mobile component barely “scratches the surface” of its potential within the state. “And … as an optimist, I do think we are able to do it this year,” he said in the prior statement.
“Ultimately, I hope the Governor will select to embrace the fantastic advantages that sports betting, such as the mobile component, will bring to New York…,” Addabbo said.
Also, legal mobile sports betting will “put a severe dent” in underground and illegal wagering, he added. Additionally, it will result in new jobs, expanded income for education – and addresses dangers associated with compulsive gambling, Addabbo stated.
Under the bill, operators will spend a license charge of $12 million per venue. Casinos will spend a state tax of eight.52 % of gross sports wagering income. Beyond that, mobile sports wagering revenue will probably be taxed at 12.five % on gross revenue.
Any sports bettor should be within the State of New York when putting a wager on athletics. The server used by a mobile sports wagering operator should be located within the casino.
Native American nations can also opt-in to participate in mobile sports wagering. Tribal mobile sports wagering revenues will be subject to taxes in the same rate as the state’s licensed casinos.
The bill is likely to raise in between $810 million and $30 million annually for New York State education. The state could obtain $48 million in licensing fees from operators.