Online sports betting in New York seems unlikely

Online sports betting in New York seems unlikely

Governor Andrew Cuomo released the annual budget proposal for FY2021 and included a plan that excludes online sports betting in New York.

US.- The gaming industry continues to transform and new technologies are a great part of it. However, it seems that some states are not willing to take advantage of some verticals just yet.

Online sports betting in New York could be huge, but Governor Andrew Cuomo is not on board just yet. He recently revealed his annual budget proposal for the state’s fiscal 2021, which only includes “sports lounges” and not iGaming. 

The modest sports betting expansion foresees new small betting windows and kiosks to launch outside sports lounges. However, no online sports betting in New York seems to be on the horizon just yet.

Cuomo is not willing to pass online betting as he thinks it would need a constitutional amendment. State Sen. Joseph Addabbo Jr. and other betting proponents think otherwise and criticised the governor. 

They said Cuomo’s budget makes projections from “creative although irresponsible revenue sources” that never seem to arrive.

Latest results

Revenue from sports betting operations in New York posted a year-low last month, totalling just over US$780k. This figure represents the lowest since New York legalised and launched its sports betting market in July 2019.

The US$780k that sportsbooks generated in New York represent a significant setback from November’s performance, which was previously the worst that the state had recorded in its first four months.

The leading operator in December was DraftKings, in charge of the sportsbook at del Lago Resort and Casino in Waterloo. The facility registered US$335k in total revenue, or 45.6% from the US$230k that it had achieved the previous month.