Online Sports Betting by end of 2020 for New York?New York
The New York State Gaming Commission (NYSGC) extended the June 1 deadline in order to address the market changes due to the results of the Coronavirus pandemic.
Senator Joseph Addabbo Jr. stated he is confident the study results will arrive in time to legitimize New York sports betting.
The Road of the New York Sports Betting
When the NYSGC originally set up the study in July, it set the due date for December 31, 2019. However, the commission did not choose Spectrum Gaming Group to initiate the study until November.
Brad Maione, spokesman for the NYSGC stated:
“Since the issuance of the Requests for Proposal to conduct a Gaming Marketing Study, the gaming landscape has been severely affected by the Coronavirus pandemic. The potential impacts of this pandemic on the future of existing gaming and its implications on future development need to be fully considered.
“Accordingly, we have agreed to provide the additional time necessary to fully measure this issue.”
Reasoning behind Delay for NY sports betting study
The study is looking into the potential market and impacts of offering sports wagering in New York online. Currently. New Yorkers only has legal sports betting in upstate land-based casinos, making it more convenient for NYC dwellers to cross the bridge and bet in New Jersey.
Addabbo and Assemblyman Gar Pretlow plan to push for mobile sports wagering and expediting new casino licenses in the New York City area.
While there is support for mobile sports betting, Governor Andrew Cuomo and Assembly Speaker Carl Heastie have blocked the previous effort.
“The virus did affect our gaming statewide, there’s no question,” Addabbo said. “Given that the global that the global pandemic hampered our state for months now, it’s going to take a while for gaming entities to get back up and running. For the study to reflect that I think is the right thing to do.”
COVID-19 Effects on Online Sports Betting Fees
Commercial casinos remain closed as horse racing tracks were approved to reopen. Tribal casinos recently started reopening after two months of being shut down.
Addabbo’s bill includes a one-time fee of $12 million before casinos can legally offer mobile sports wagering. The money must be paid prior to license issuance within 30 days of commission approval.
In recent hearings, MGM, Las Vegas Sands and the Genting Group (parent company to Resorts World New York) have all expressed interest in casino licenses:
“The casinos who will be bidding on mobile sports betting licenses took a hit. The entities who would bid on downstate casino licenses took a hit. That could make it difficult for them to bid on these licenses. But the potential for mobile wagering and downstate gaming remains. Therefore, I don’t think there should be a discount at all, but in the light of the pandemic we can work out some type of payment plan.”
Mobile gaming and casino licenses aren’t going to make up for the deficit; Addabbo wants to put them in a revenue bill later this year to lessen cuts to essential services.
“It all boils down to where we are economically, and we are suffering. No one wants to do close to a billion dollars in cuts to healthcare and hundreds of millions in education, especially in an election year. How can you cut healthcare in the midst of a pandemic?”
“Tell your Senator of Assemblyman that we can cut healthcare or education, or we can do sports betting. We already have sports betting in our state, we’re just not maximizing it potential.”