Legislatures take another look at expanded sports gambling after the state’s Governor expressed mild concerns and removed betting from this year’s budget.
Some may not know, but sports gambling is legally available in New York just restricted to upstate casinos, however, a bill presented in 2019 may allow New Yorkers to wager anywhere in the state. A06113 is an assembly bill which was introduced to the NY legislature on February 28th, 2019. This bill would regulate state-wide gambling opportunities and mobile wagering.
The bill has 23 sponsors, nearly all Democrats. The bill has one companion, S00017, which reads the same way – this bill was pushed through by the NY Senate to authorize domestic statewide mobile betting options. A06113 was last referred to the Assembly on Racing and Wagering Committee; its hearing was scheduled for May 29th where the bill received 8 Yeas and 3 Nays.
Provisions under New York’s A06113 detail a potential tax rate for legal domestic wagering operator’s gross revenue at 8.5%. This 8.5% tax percentage is not applied to domestic mobile wagering revenue; mobile wagering revenue will be taxed at 12%. Taxed wagering revenue will be allocated by the regulating Commission to the Commercial Gaming Revenue Fund which will distribute a portion of the funds for Problem Gambling Education and Treatment programs, to pay for the cost of regulation, and more.
Wagering on professional and collegiate sports events would be permitted. However, any NY collegiate team or event which takes place in NY would be prohibited to wager on. Under this bill, casinos, which are licensed and authorized to do so, would be allowed to offer sports pools.
A06113 requires sports wagering license applicants to pay a one-time fee of $12 million, payable within 30 days of the Commission’s application approval. Under this bill, sports pools must operate out of a sports wagering lounge located within a casino, and the lounge shall comply with square footage, design, equipment, and security requirements.
Bettors in New York could only participate in legal domestic wagering if they are at least 21 years of age. Tribal-run casinos will also be permitted to offer wagering opportunities. Registering for a mobile wagering account offers the option to do so in-person at a casino or through the wagering operator’s website.
Will this bill be successful? With companion bill SB 17, it seems New York lawmakers are trying their best to get betting’s foot in the door. Both bills have had significant positive movement in May, which could signal a potential for at least one of the two bills to pass.
