Online sports betting in New York poised to bring $500M to the state
sports betting will be allowed in New York state as part of the new budget deal.
It could bring in hundreds of millions of dollars in revenue.
The details are still being worked out as to which apps or
companies will be allowed to participate.
bettors told News 12 that they are excited about the prospect of pulling out
their phones and betting on a game legally in New York.
will be able to do that by the end of the year, and it will likely be with a
lot of the familiar names and companies that we're used to hearing in the
space,” says Jared Smith, a sport betting analyst and
freelance News 12 sports anchor.
admitted to driving to New Jersey just to place a legal bet on his phone.
off the [George Washington Bridge], I'd make my bets and go back,” he says.
says he believes FanDuel and DraftKings will be the only two operators in the
state after it submits proposals.
there won't be sports betting kiosks at arenas or OTBs, sports bars, Smith
says, could see a boost in business.
Jeffrey Reynolds, of the Family and Children’s Association, says legalized
online sports betting in New York could create a problem for those who suffer
now putting a casino, literally in everyone's back pocket,” he says. “If we're
going to do that, we need to make sure we're dealing with the 1-2% of folks who
will actually go on to develop problem gambling issues. We've got to make sure
we have treatment available for those folks.”
a budget briefing Wednesday, Gov. Andrew Cuomo said the law allows the state to
directly operate mobile sports betting like the New York State Lottery so that
the estimated $500 million will go to the state.
expected that New Yorkers will be able to place mobile wagers by the end of the