New York may expand gambling soon
State lawmakers are considering a legislation that would expand the segment and allow sports betting in New York.
US.- As sports betting continues to grow, New York may be the latest state to join the conversation. Lawmakers are considering legislation to expand gambling and allow the segment to go live.
The sports betting legalisation will go through a key hearing on Wednesday. The Senate Standing Committee on Racing, Gaming and Wagering will hear testimony on the segment.
New York had already supported its inclusion in the US$175.5 billion state budget but has decided to remove it.
The sports betting segment had already been approved back in January as the New York State Gaming Commission voted to approve its regulation in the state’s four private casinos. However, the mobile vertical was excluded due to the opposition from Governor Andrew Cuomo and got omitted from the state budget.
Senator Joseph Addabbo, an advocate of mobile sports betting, warned: “We’re sitting on the sidelines and letting our money go out of state.” He says the segment would generate up to US$90 million through taxation and licence fees, but only if it gets approved.
The segment’s approval
The New York Gaming Commission (NYGC) voted to approve sports betting regulations and launched a public comment period. The 60-day period will run through May and, should the commission meet that month, the segment may go live.
The NYGC can adopt, withdraw or revise rules. Therefore, if it meets in June, it could select a date for sports betting in New York to begin that month.
Sports wagering would be allowed at the four privately-owned non-Indian-owned casinos. The commission only allowed sports betting at casinos, for which they must set up special lounges.
