New York Mobile Sports Betting: Prognosis Good, But Still More Questions than Answers

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The New York Govt. says there is a “conceptual agreement” in place for a state budget that includes mobile sports betting.

According to reports, one of the recent big obstacles is determining how to get mobile applications online in New York.

In recent days, lawmakers and leaders in central New York have expressed concern that residents in a 10-county area could be left out. This is because Oneida’s agreement with the state grants them exclusive gaming rights in the area.

Rob Mujica, the state Budget Director for Oneida, told reporters that they are trying to find a way for Oneidas to participate.

“We want to respect all of the current compacts’ terms, and we are working actively to draft a bill that will reflect all of those principles,” he added

After Cuomo and Mujica spoke to reporters, a group of Democratic state lawmakers sent a letter to Cuomo, Assembly Speaker, requesting the same.

“This proposed violation (of the Oneida compact) could cost the state $70 million in gaming payments. “It would also result in tax rises and the loss of thousands of jobs throughout central New York,” the lawmakers wrote.

A Lottery Approach to New York Sports Betting

In terms of income, Cuomo has made the lottery-style solution his negotiating hill.

Cuomo wishes to exclude the casino as a middleman. Instead, he intends to grant contracts with at least one sportsbook through a competitive bid process. He previously stated that this strategy could produce $500 million for the state per year.

Rumors have it that Cuomo’s sports betting strategy is being tweaked to allow more operators. This could pave the way for books to work in tribal casinos.

Others operators have adopted such an approach. Initially, this method generates revenue through license application fees. However, the solution would most likely tax operators at a cheaper cost than a revenue-sharing partnership would.

 

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Nassima Azmzm

Nassima Azmzm

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