In a recent interview, New York Assemblyman J. Gary Pretlow shared some of his ideas about the future of sports betting in the Empire State. The Co-Chair of the New York Assembly Committee on Racing and Gaming spoke that he wants to see sports wagering customer phone lines as well as more mobile operators for bettors to choose from next year.
Earlier this year, the Empire State introduced its online sports betting market, which allows for a total of nine mobile brands to legally operate in the market. The new model has already brought in more than US$200 million in tax revenue to the state. And it was one of the topics that the assemblyman discussed with the media.
Pros and Cons of the Market
Mr. Pretlow claimed that New York’s new mobile sports betting market has already brought in millions in tax revenue to the state and has even surpassed other jurisdictions since its launch. According to him, this includes New Jersey, Maryland, and Pennsylvania and has become the top state for generating proceeds from online sports gaming in the country.
However, one of the market’s problems is the high tax rate of 51% for operators, and the assemblyman also agrees. Mr. Pretlow said that sportsbooks’ promotions have drastically decreased over the last few months. And he believes that the solution would be to decrease the tax rate to 37% or 38%, which would potentially open the market for more sportsbooks.
Another one of the issues for the assemblyman with the market is the lack of a phone line if customers experience an issue. For instance, gamblers in New Jersey have the access to one. And currently, Empire State bettors who wager on one of the sportsbooks, besides WynnBET, must resort to using chat room or e-mail if they have problems with the apps.
Getting through the chatbot of a sportsbook can be quite tricky, says the lawmaker. That is why he is aiming to change the law to require interaction by voice. He also wants to see the option of wagering on individual award player prop bets, such as the Cy Young Award winner in baseball, the Heisman Trophy winner in college football, and the Most Valuable Player awards that can be seen in many sports.
More Plans to Advance the Sector
New York lawmakers are also looking into legalizing online gambling as a legal option in the state. This will allow local gambling enthusiasts to play games such as roulette, blackjack, and poker from the comfort of their devices. According to a report by VIXIO GamblingCompliance, the inclusion of iGaming would deliver around US$428 million every year for the state.
The Empire State’s land-based gambling industry will also experience an expansion, as in April, the state fast-tracked the issuance of the three downstate casino licenses. Real estate and gambling leaders are now eyeing several sites for a potential commercial venue in NYC. Some of the locations include Times Square, Hudson Yards, Willets Point in Queens and even Coney Island in Brooklyn.
Source: Sheridan, Chris “NY Assemblyman J. Gary Pretlow Shares 2023 Vision for State Sports Betting”, Casino.org, August 8, 2022