What You Need to Know About the New Sports Betting Bill in New York
Two weeks into 2019, the New York state had a pre-filed sports betting bill. The racing, gaming and wagering committee introduced it with the intent of allowing the four commercial casinos to operate sports betting.
The new bill shares a lot of its structure with a previous one from the former chairman of the committee, John Bonacic. His bill failed to pass.
The new SB17 bill permits sports betting in New York on either mobile or land-based casinos. It also allows for the gaming commission to share information with other US states with the purpose of monitoring integrity.
In terms of numbers, the 2019 SB17 bill proposes a fee of 0.2% to professional sports leagues and a tax of 8.5% on the gross revenue obtained from the sports bets.
The bill requires gamblers to sign up for their mobile sports betting accounts in person, something that will likely be proven to be inconvenient and even difficult, especially for players that reside in the southern part of the New York state.
Even with this new pursuit of more relaxed gambling legislation, New York laws continue to be quite strict.
Of all the seven states that legalized sports bets during 2018, none required a royalty fee and the use of official data, two significant obstacles in the path to pass the bill since many stakeholders are opposed to these provisions.
Even if the bill moves smoothly through the Senate, the Assemblyman Gary Pretlow, chairman of the responsible committee in the House, will pose a substantial threat. He has yet to pass a sports betting bill and seems determined to continue to do so.
We guess we’ll have to keep following the developments throughout the year.