Journey to mobile NY sports betting restarts with a single step

The Senate approved S 17 last June but the Assembly never brought it up for a vote with word that Gov. Andrew Cuomo would veto the legislation. The bill carried over unchanged to the second year of New York’s two-year session.

Less than five minutes into the hearing Monday morning, the bill had unanimous approval after quick comments from members. It was referred to the Senate Finance Committee.

Addabbo said he is making the move earlier than usual in order to start the process of advocating for mobile NY sports betting to obtain momentum for the impending budget process.

NY budget discussions begin this month
Cuomo’s executive budget proposal is due by Thursday. Addabbo expressed hope that Cuomo will include mobile casino expansion and sports betting in New York in the budget. Cuomo didn’t speak on either in his State of the State address last week.

“Every time the governor spoke at the State of the State, I heard a cash register go off and see the need for substantial revenue, which I believe mobile sports betting and the three unused commercial gaming licenses provide,” Addabbo said. “I’ll remain rationally hopeful it’s included in our state budget.”

Addabbo communicated that NY sports betting doesn’t need to be in Cuomo’s initial proposal to make the final budget. That process will continue until April 1 with discussions among the Senate, Assembly, and executive office.

What’s in NY sports betting bill

As passed by the Senate, S 17 could be better for the industry. But it’s not getting any improvements before moving out of committee this year.
Key components of the bill include:

   An initial license fee of $12 million.
    Tax rate of 8.5% on retail sports betting and 12% on mobile.
    0.20% of the handle on all wagers go to professional sports leagues as an integrity fee.
    One skin per casino.
    Casinos required to use official league data for in-play wagers if made available on “commercially reasonable terms” as determined by the New York Gaming Commission.
    Racetracks, off-track betting parlors, sports stadiums and arenas may partner with commercial casinos to offer sports betting through the mobile servers on their properties.
    Indian tribes also would need to partner with commercial casinos to offer mobile wagering.