The state of New York is currently facing a $15 billion dollar budget deficit, and as is the case in many other territories, sports betting has been tapped as the best hope to quickly make up such a massive shortfall.
Of course, legal sports betting in New York can already occur at the region’s four domestic casinos, but revenues thus far have not provided the projected dollars that analysts had predicted and now Governor Cuomo is aggressively seeking to fast track the approval for mobile sports betting in NY.
Some states require that the use of mobile sports betting applications be restricted to casino properties via geotracking software, but Gov. Cuomo is looking for full-blown expansion that would allow for betting on sports from anywhere inside New York’s borders.
New York’s domestic casinos feature in-person sportsbooks as well as betting kiosks that allow for wagers to be placed on major athletics through the use of push-button touch screens. These sportsbook kiosks are located throughout the casinos, adding for more convenient and less personal betting options.
The sportsbook applications that Governor Cuomo is suggesting for approval would feature the exact same software as the betting kiosks, with identical operation and layout.
All of the options offered at a brick-and-mortar sportsbook would be made available on the new betting apps, including a $1,000 maximum bet per wager, and would also allow for prop bets on major sports.
The most major bone of contention that experts are anticipating is a clash between New York State Government and the casino operators over who will run mobile sports betting and how the proceeds are split.
Cuomo wants a model similar to other regions where the state lottery system runs the entire operation, and more importantly, keeps all of the revenue.
Naturally, the casinos aren’t feeling the same way, and intend to drag this battle out in the New York legislature as long as they can before allowing those revenues to redirect toward state tax collectors.
DraftKings, FanDuel, and other industry-leading domestic vendors are already in place and operating at New York casinos, and extending those operations into the realm of smartphones and tablets would require less startup time and planning if they were to handle the rollout of mobile betting apps.
State lawmakers are also aware of that and are deliberately attempting to circumvent the casinos, despite their expertise in the field. New York needs money, badly, and in this case, they are more than willing to cut out the middle man.
If and when these mobile betting apps are made legal, residents of New York state and visitors to the area will be able to bet on the NFL, college football, or any other major sporting event around the world beginning at 18 years old.
Of course, bettors that are over 18 can place bets online or via the latest Apple smartphone or tablet using offshore sportsbooks that operate outside of the jurisdiction of New York or the United States.
These international sports betting sites will still be in play even after the Empire State gets their act together and legalizes mobile sportsbook apps, so check out our top online betting sites for New York City today and see for yourself.
Source: WCAX News