The Governor of New York, Andrew M. Cuomo has recently unveiled his plan to allow mobile sports betting to operate in the state. This comes as he remarked on the present digital sports betting framework which encourages the population of NY to use black markets or leave the state, causing a budget deficit.
Keeping revenue in New York
According to a recent study, it was found that almost 20% of the sports wagering revenue from New Jersey comes from New York residents who are forced to leave the state to indulge. This is something that Governor Cuomo has noted and hopes to change in an attempt to regain control of the economy after COVID-19 impacted it.
Cuomo said: “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.”
Mobile sports betting incoming
The plan recently set out by the Governor includes plans for the New York State Gaming Commission to release a request for proposals for licenses. This should help to set up mobile sports betting in the state.
According to a statement by Cuomo, the commission will have a mandate in place that requires any party that runs mobile betting apps to have protections from abuses and addictions.
With sports wagering now legal in 14 states across the USA, New York could be the next to start generating revenue from this activity. This state has its Governor on its side, so it won’t be long before licenses for mobile sports betting are granted in the state of New York.