With retail sports betting raking in revenue for the state of New York, lawmakers are pushing to legalise mobile sports betting.
US.- The New York State Assembly has proposed a licensing structure and tax regime for mobile sports betting in the state. It has also made projections on the potential financial impact for the state.
The proposal sets the licensing fee at $12m for each platform and taxation at 12 per cent of operators’ gross gaming revenue.
The assembly predicts that the fiscal impact of mobile sports betting on the state of New York will be $180m in 2022, $86m in 2023, $112m in 2024 and $118m in 2025.
New York Governor Cuomo has publicly advocated legal sports betting after long pushing against it. His switch in opinion is believed to be at least partly due to the impact of the Covid-19 pandemic on state coffers.
New York lottery modifications
New York’s budget proposal also aims to amend restrictions on the states lottery game offerings. At present, New York can only offer each particular game once per day. The assembly wants to increase that to twice.
If the modification is made, the budget proposal suggests that the extra draws could bring in a further $7m in 2022, then $9m in each of the following three years.