New York Governor Changes Stance on Mobile Sports Betting

Governor of New York, Andrew Cuomo, has said that he will embrace mobile sports wagering in this state, after being vocally against it for quite some time.

In his announcement, he underlined he now sees how this vertical of gambling industry can help bring in new revenue after New York has been financially stricken by the global pandemic.

180-Degree Turn

Cuomo confirmed that he will add mobile sports betting measure to his policy proposals during the State of the State address next week.

He said that New York’s potential to be “the largest sports betting market in the US” could not be overlooked. Online sports betting has already been legalized and with mobile betting, NY would keep millions of dollars in tax revenues.

The biggest fear was that this amount of money could be spent in the neighboring New Jersey.

Cuomo reckons that the addition of mobile sports betting would bolster the rebuild process after the crisis. The pandemic has severely damaged the state’s finances and the officials are looking to find new ways to bring in revenues to fill a budget gap.

The Needed Changes

ing the mobile option, Cuomo stated that the new betting structure would motivate a large segment of NY residents who would otherwise wager outside New York or bust black market options.

The governor was not eager to raise taxes in the state to bring in more funds. In December, Cuomo started softening his stance towards mobile wagering during a press conference in which he contemplated the introduction of this vertical.

Operators would need to be approved for licensing by the state…

…before gaining a partner in a form of gaming facility. The current gambling regulations in New York allow this.

The State Gaming Commission would be in charge of the whole process. They will be able to request proposals from operators to offer mobile wagering, while existing integrity programs will have to be improved upon to make sure any mobile apps operator has proper safeguards in place.

Source:

“Cuomo to fully embrace mobile sports betting in State of the State address”, nydailynews.com, January 6th, 2020.