New York gives green light to online sports betting with limited operators

The approved model has the support of the governor and opposition from the gaming industry

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New York passed a budget for its fiscal year 2022 in which online and mobile sports betting would be legalized in the state for the first time.

The Senate voted in favor of the impressive $ 212 billion budget deal Tuesday night, and the lower house still has a few bills to vote on before sending it to the governor’s office. New York is going to pass the government-driven online sports betting limited operators model, which was endorsed by Governor Andrew Cuomo and rejected by a majority of state legislators and the gaming industry in general.

On Tuesday, Cuomo announced that an agreement had been reached with the Senate Majority Leader Andrea Stewart-Cousins ​​and Lower House Leader Carl Heastie, which will be included in the state budget of more than $ 200,000 million for fiscal year 2022. The NY Lottery would issue requests for proposals from two mobile betting operators, which would then outsource licenses to four sports betting skins.. Operators must grant between 50% and 55% of your mobile income to the state.

New York would become the most populous state to legalize mobile sports betting, generating a new revenue stream estimated at US $ 500 million annually, according to the state budget director, Robert Mujica. “When the budget ends, that’s when the work begins,” he told The Action Network the senador Joseph Addabbo on Tuesday. He explained that the New York Gaming Commission would work on additional regulatory measures. Authorities expect to launch online sports betting in September, prior to the 2021 football season.

Tuesday’s announcement came as a surprise to most industry players, and to Democratic lawmakers, who had pushed for a competitive model with more licenses. Addabbo said New York’s online sports betting model could change in early 2022 if it doesn’t meet expectations..

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Cuomo promised during a press conference Monday that the three tribes that run gambling establishments in the state would also be included in online sports betting. The Oneida People (which already had a prior agreement with Caesars / William Hill), the Akwesasne Mohawk (FOX Bet) and the Senneca supported legal sports betting options during budget debates, but could be excluded from mobile betting in the state.

The budget law would also exclude gambling stands in stadiums, at Yankee Stadium, Madison Square Garden and other major New York sports venues that lawmakers had supported.

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