New York Sports Wagering Should Be Mobile By September [Interview]
The long-awaited opportunity to enjoy mobile sports betting here in New York may finally be here, or at least close. Governor Andrew Cuomo recently said that he was on board with legal betting as an opportunity to make some money and decrease the state's massive debt. How close are we really? Gaming Law and Sports Betting Attorney Daniel Wallach thinks mobile betting could be here as soon as September if one last hurdle is cleared.
At this point, Governor Cuomo and Senator Joseph Addabbo Jr, who is the Chairman of the Committee on Racing, Gaming, and Wagering both agree that mobile betting should and can happen. Now they need to agree on how it will happen. The governor's plan would allow a select few mobile sights to function in New York-based on which ones made the most favorable bid to do so. Senator Addabbo wants all seven of the legal casinos to have two apps each. Daniel Wallach explains that the Addabbo plan would limit the state's profits to around $100 million a year where Cuomo's could be closer to $300 - $500 million per year. Listen to Wallach's explanation below.
The timeline seems to be about the same no matter which plan is adopted but the benefits to the bettors could be drastically different. The more online companies attempting to gain your business would result in more bonuses and incentives to the player. However, more revenue to the state could halt the increase of taxes or even reduce them over time.
The bottom line is mobile sports betting is coming it's merely a matter of how and when. Which is far better than trying to decide IF it would ever happen here in New York.