It makes sense to approve the legislation, Addabbo contends. \u201cAdding mobile wagering to the mix will go far in capturing revenues that might otherwise continue to flow across the border to New Jersey,\u201d Addabbo said.<\/p>\n
Experiences in other states have demonstrated that implementing sports betting without a mobile component leaves those states where people cannot wager with their phones or other devices at a competitive disadvantage,\u201d Addabbo explained.<\/p><\/blockquote>\n
Earlier, Addabbo said allowing only in-person sports betting without the mobile component barely \u201cscratches the surface\u201d of its potential in the state. \u201cAnd \u2026 as an optimist, I do believe we can do it this year,\u201d he said in the prior statement.<\/p>\n
\u201cUltimately, I hope the Governor will choose to embrace the great benefits that sports betting, including the mobile component, will bring to New York\u2026,\u201d Addabbo said.<\/strong><\/p>\nAlso, legal mobile sports betting will \u201cput a serious dent\u201d in underground and illegal wagering, he added. It also will lead to new jobs, expanded revenue for education — and addresses risks associated with compulsive gambling, Addabbo said.<\/p>\n
Tax Revenue, Licensing Fees<\/h2>\n Under the bill, operators will pay a license fee of $12 million per venue. Casinos will pay a state tax of 8.52 percent of gross sports wagering revenue. Beyond that, mobile sports wagering revenue will be taxed at 12.5 percent on gross revenue.<\/p>\n
Any sports bettor must be in the State of New York when placing a wager on athletics. The server used by a mobile sports wagering operator must be located in the casino.<\/p>\n
Native American nations can also opt-in to participate in mobile sports wagering. Tribal mobile sports wagering revenues will be subject to taxes at the same rate as the state’s licensed casinos.<\/p>\n
The bill is likely to raise between $810 million and $30 million annually for New York State education. The state could receive $48 million in licensing fees from operators.<\/strong><\/p>\nEarlier Attempt Failed<\/h2>\n In an unsuccessful attempt to approve mobile sports betting earlier this year, political leaders did not approve including it in the $175.5 billion state budget which went into effect in April. The US Supreme Court paved the way for sports betting in May 2018 when it ruled the Professional and Amateur Sports Protection Act unconstitutional in Murphy v. NCAA<\/em>. Since then, several states have approved sports betting.<\/p>\n","protected":false},"excerpt":{"rendered":"Legislation that permits online sports betting in New York State moved forward on Monday after overwhelming state Senate approval by a 57-5 vote. The bill, S17, could be voted on by the state Assembly later this week. In its way, may be a powerful Democrat opposed to expanded gambling in the Empire State — Assembly […]<\/p>\n","protected":false},"author":44,"featured_media":107182,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[13,1074],"tags":[],"acf":[],"yoast_head":"\n
New York Senate Approves Sports Betting Through Mobile Devices, But Questions Persist if Assembly, Gov. Cuomo Agree - Casino.org New York Senate Approves Sports Betting Through Mobile Devices, But Questions Persist if Assembly, Gov. Cuomo Will Agree<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n