governor Andrew Cuomo has doubled its vision for state mobile sports betting in New York.
Presentation of the state FY 2022 bbudget in the Albany On Tuesday, Cuomo repeated his plans to run new York Sports betting like the state lottery.
“The question is not whether we do mobile sports betting or not,” said Cuomo. “The question is more how and who makes the profit. It’s very lucrative. One suggestion is that we allow casinos to operate mobile sports betting. This is very good for casinos and the people who support casinos.
“The second alternative is for the people of New York State to actually make the profits from mobile sports betting and operate it like we operate the state lottery. There it is state and the state gets all the revenue.
“I’m with the people. I believe the people of the state should get the revenue. This is not a moneymaker for private interests just to get more tax revenue. We want the real income from sports betting. “
No cuomo shift in sports betting in NY
The comments resemble Cuomo’s earlier rhetoric about sports betting in New York. His budget director Robert Mujica said the lottery model would help the state generate something $ 500 million one year of sales $ 50 million in an open model.
The claim that a government model can generate ten times the sales of an open market is at best not proven elsewhere in the US.
There was some hope that Cuomo may have softened his stance to allow for a more open sports betting market. The industry has lobbied to point out the benefits of choice for consumers.
Sen. Joe Addabbo Jr. and Rep. Gary Pretlow also have submitted NY sports betting bills Requirement for at least eight online operators with up to 14th a possibility.
Legislation follows a different model
Addabbo pushed his bill through that Senate Committee on Races, Games and Betting this morning. The next step is this Senate Finance Committee.
However, those plans are likely dead in the water with Cuomo tuned in to the state model. You could be at risk whether or not the gathering shows the same reluctance to mobile sports betting in New York as it has in years past.
The governor’s plan would instruct the New York State Gaming Commission Selection of an online sports betting provider via an application process.
New Hampshire is perhaps the most similar model where DraftKings paying off 51% of its revenue to the state in return for a monopoly. DraftKings offered various models to New Hampshire regulators, some of which would allow other operators, but generate a smaller percentage of DK’s revenue.