New York Governor discusses new mobile sports betting plan
Andrew M. Cuomo, the Governor of New York, has revealed his plan to authorize mobile sports betting to operate in the state. This news comes after he made remarks about the current digital sports betting structure that persuades the population of New York to use black markets or leave the state, which in turn results in a budget deficit.
A study conducted recently revealed that around 20% of the sports wagering revenue from New Jersey actually comes from New York residents who are required to leave the state if they want to splurge. This is an issue that Governor Cuomo has taken note of and is hoping to change in the near future, attempting to regain control of the economy after the pandemic.
Cuomo stated: “New York has the potential to be the largest sports wagering market in the United States, and by legalizing online sports betting we aim to keep millions of dollars in revenue here at home, which will only strengthen our ability to rebuild from the COVID-19 crisis.”
The plan newly set out by the Governor includes plans for the New York State Gaming Commission to deliver a request for proposals for licenses. This will help in setting up mobile sports betting in the state.
According to a statement made by the Governor, the commission will have an order in place that forces any party running mobile betting apps to have various forms of protection from abuses and addictions. With sports wagering now made legal in 14 states across the USA, New York could possibly be the next to start generating income from this venture. The state has its Governor on its side, so it surely will not be long before licenses for mobile sports betting are given in the state.