New York is suffering from a $15 billion budget due to the coronavirus pandemic. One way it can solve the problem is to legalize online NY sportsbook industry. Thus, Governor Andrew Cuomo included an online sports wagering plan in his budget proposal.
Governor Cuomo said that online sports betting could add $500 million to its coffers. However, there are many challenges before online sports wagering becomes legal in the state. The governor’s proposal goes against what Democrats in the state legislature are proposing.
According to bookie pay per head reports, some authorities question the legality of online sports betting. Also, there are concerns about gambling addiction, especially when people had to stay at home due to the pandemic.
Legalize Online NY Sportsbook Industry
Assemblyman Gary Pretlow doesn’t see Cuomo’s plan as workable in the state. At present, New York bettors can place wagers on horse races through their smartphones supervised by a non-profit organization.
The governor thinks that mobile sports betting could work the same way. According to sports betting bookie software sources, the horse betting servers are found at racetracks. In both lawmakers and Cuomo’s proposals, mobile sports betting servers will be placed in casinos where sportsbooks are found.
According to a political forum, the difference between Cuomo’s proposal and lawmakers’ plan is the number of operators in the state. Cuomo wants to have a single operator under the NY State Gaming Commission’s supervision.
Lawmakers are not in favor of a monopoly. They want more than one operator to maximize tax revenue. States with a single sports betting operator are Oregon, District of Columbia, Rhode Island, and New Hampshire. Also, sports wagering is legal in more than two dozen states. More states have pending legislation waiting for approval by their lawmakers.