ALBANY – When you are $15 billion in debt you look for more money, that’s why New York’s Governor is weighing several options to find funds, including making mobile sports betting legal.
Governor Andrew Cuomo says he plans to announce new legislation during his upcoming State of the State Address that would allow the State Gaming Commission to elect and license a sports operator or platform to offer mobile sports wagering in the state.
He says operator or platform must have a partnership with one of the existing licensed commercial casinos.
Sports wagering is now legal online in 14 states, including the bordering states of New Jersey and Pennsylvania. Currently in New York, it is only legal at the four Upstate commercial gaming facilities and Native American gaming facilities.
“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,” said Cuomo.
The commission will also require any entity operating mobile wagering apps include safeguards against abuses and addiction.
Earlier this week Cuomo announced his plan to legalize recreational marijuana to additional raise the state’s revenue.