The way the governor\u2019s proposing it and will advance it is so that the state can get up to $500 million a year instead of $50 (million),\u201d state Budget Director Robert Mujica said. \u201cAnd that money would then go to the state budget.\u201d<\/p><\/blockquote>\n
The Addabbo and Pretlow bill estimates the state would receive up to $84 million in one-time licensing fees and about $79 million annually in tax revenue. The bill\u2019s fiscal note calls that a \u201cconservative\u201d forecast, with the money supporting education.<\/p>\n
New York Could Be Top Dog in Sports Betting<\/h2>\n
New York with online wagering would almost instantly become the top sports betting market, according to industry analysts.<\/p>\n
Neighboring New Jersey holds that honor at the present time. However, industry officials claim that downstate New Yorkers account for about a quarter of the Garden State\u2019s market. With just retail operators at the state’s upstate casino resorts, such states as Pennsylvania, Illinois, Indiana, and Colorado eclipse New York. All of those states have far smaller populations than the Empire State’s 20 million.<\/p>\n
Blake Weishaar, an editor with Fantini Research, has said he\u2019s seen estimates that a mature New York market could generate revenues of up to $1 billion.<\/p>\n
It\u2019s uncertain, though, if Cuomo\u2019s plan would impact revenue generation. His plans, though, would limit licensed legal operators to as few as one statewide.<\/p>\n
More details of the governor\u2019s plan are expected to be released Monday. That’s when Cuomo delivers his state of the state address.<\/p>\n","protected":false},"excerpt":{"rendered":"
Two New York state lawmakers filed legislation on Thursday to legalize mobile sports betting. However, they\u2019re proposing a different format than what Gov. Andrew Cuomo proposed earlier in the week. Under Senate Bill S1183 filed by state Sen. Joseph Addabbo, D-Queens, the state\u2019s four upstate casinos would be able to partner with two mobile operators. […]<\/p>\n","protected":false},"author":45,"featured_media":160818,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[13,1074],"tags":[],"acf":[],"yoast_head":"\n
NY Lawmakers File Sports Betting Bill, Differ in Approach From Cuomo<\/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