New York bill proposes legalisation of fantasy sports prop bets
The bill also aims to raise the minimum age for fantasy sports from 18 to 21.
US.- New York is considering legalizing prop bets in fantasy sports, a move expected to boost revenue for education and prevent funds from flowing out of state or to illegal operators. These proposition bets have gained notoriety with some bettors even sending threats to athletes who affect their wagers.
Several states have banned or restricted prop bets for college games, including New York, affecting fantasy sports as well. However, there’s now a legislative push to legalize prop bets, particularly for fantasy sports, through licensed gambling operators in the state.
Gary Pretlow, chairman of the Assembly Racing and Wagering Committee, is co-sponsoring a proposal to allow fantasy sports prop bets in New Tork. The bill also aims to raise the minimum age for fantasy sports from 18 to 21, aligning it with the state’s sports betting age requirement.
Senator Joseph Addabbo, chair of the Senate Racing, Gaming, and Wagering Committee, is backing the proposal, highlighting the potential for increased tax revenue. Fantasy sports generate $3-4m annually in New York.
See also: Lawmakers push to speed up New York City casino timeline
