Latest reports from New York State, confirm that the state is one step closer to the official introduction of the heavily-discussed online sports betting. Recently, the New York State Register published its latest newsletter which officially recognizes the rules for mobile sports betting, thus clearing another hurdle on its way before the launch next year.
The state’s administration decided to launch online sports betting as a way of accumulating more revenue for the state’s budget, and the new option was officially added to the state budget plan in April. As well as stop locals from traveling to the neighboring New Jersey where they can free bet online on sporting events on one of the several regulated platforms.
Now, the New York State Gaming Commission has selected two winning bids to lead the charge, and awarded a total of nine gambling licenses to sportsbooks. There has been development as the New York State Register has now recognized the rules for the online expansion, and has introduced some regulations which will come into play once mobile sports betting starts.
In the newsletter, the New York State Register also mentions some of the suggestions from sports betting operators and the New York Racing Association. The association expressed its intention to offer an advance deposit wagering platform in cooperation with the NY mobile sports betting licensees. This way gamblers can be used an electronic wallet with funds that can be used on the advanced option or on the new online platforms.
DraftKings one of the now licensed operator has made several suggestions for the new offering. The company proposed that employees of mobile sports wagering operators should be allowed to wager on the platforms, however, the commission does not agree. The gaming brand also suggested having the required customer complaint link on the player’s account page instead of the company’s main one. This was also rejected.
Penn National Gaming requested for the definition of “mobile sports wagering promotion” to be changed so terms such as “odds boosts” and “odds benefits” could be removed. However, the commission has also denied the suggestion, as the pre-approval of such promotion provides regulatory control and protection of customers. The full newsletter can be found on the New York State Register’s website.
New Horse Racing Bill
New York State Sen. Joseph Addabbo recently come up with a bill that would largely benefit the horse racing industry and sportsbooks from the state. The legislation would allow for licensed sports betting operators under the new online sports betting initiative to offer fixed-odds betting on live horse racing competitions. The bill was submitted Senate Committee on Rules, but it will be evaluated in January at the earliest.
One more benefit from the introduction of mobile sports wagering in the Empire State would be to prevent locals pouring their money on wagers in New Jersey. This summer EmpireStakes.com conducted a survey which discovered that 75% of adult New Yorkers have traveled to the Garden State in order to place a wager on the state’s online sports betting platforms.
Source: “New York State Register”, NY.Gov., November 24, 2021