New York Governor Andrew Cuomo will likely be pushing for on-line sports activities betting
New York Governor Andrew Cuomo has changed his mind when it comes to online sports betting. He will make legalization a focus of his state speech next week, according to the New York Daily News.
“New York has the potential to be the largest market for sports betting in the US,” Cuomo, who had long spoken out against making online sports betting legal, told the newspaper in a statement. He added that legalizing online sports betting would allow the state to “keep millions of dollars in tax revenue here at home, which will only strengthen our ability to rebuild from the COVID-19 crisis”.
According to the Daily News, according to Cuomo’s proposal, mobile sports operators would have to receive a state license and be bound to a licensed gaming facility. According to reports, he will call on the New York State Gaming Commission to seek proposals for mobile sports betting and to ensure that gaming app operators provide protection from addiction and abuse.
Residents of neighboring New Jersey have been able to place sports bets on their phones and computers since 2018, and the state will overtake Nevada as the largest betting market in the country. In November, residents (and gamblers from New York and elsewhere) placed over $ 872 million in online bets, resulting in over $ 30 million in taxes. The state’s revenue from online sports betting rose to $ 268.8 million in 2020. The final numbers will be announced next week.