Where New York is When it Comes to Legalizing Online Sports Betting

New York is one of the now 20 states that have legalized sports betting in the US. The list includes other states like Rhode Island, Michigan, Illinois, and New York’s neighboring states like New Jersey and Pennsylvania.

This all became possible The Supreme Court of the United States have stricken the Professional and Amateur Sports Protection Act or PASPA of 1992 down in May 2018. PASPA has made sports betting federally illegal and prohibited the different states from regulating betting in their territories.

After what the Supreme Court did, it didn’t take long before states like New Jersey, Pennsylvania, and Mississippi signed and launched betting in the same year. States like Colorado, Illinois and New York only signed betting into law last year. So, why isn’t mobile New York sports betting live at this point? Read the latest news in our new NY sports betting guide.

Many states were looking forward to this as, despite the restrictions that the country has about betting before PASPA was stricken down, Americans were still placing bets online. Federally, there are now laws that prohibit Americans from wagering online on offshore-based casinos. While this can be an advantage to many punters in the US, many states just didn’t want to watch other states and countries to take potential revenues from them.

Betting online is surely still something that many do in states where betting is still illegal. They either travel to states where betting is legal to place their bets or just do it online with offshore-based casinos.

Definitely betting online can be risky especially if the operators are based outside the country with different jurisdictions. This is why it’s important for punters to first check https://www.allstargambling.com/sports-betting/ to know which online operators are the best.

Definitely, all states that have signed betting into law are hoping to get great tax revenues from the industry to help with their budget for different state projects. So far, things have been doing great for many of these states with legal betting operations.

However, it’s a different story with how things are doing in New York.  The locals, the experts, and the lawmakers themselves are all pointing towards the lack of online betting when it comes to why the state is not earning as much as it is expecting to.

In 2019, New Jersey made an estimated 57.1 million US dollars of revenue from betting operators and many of the best that New Jersey takes are from New Yorkers. It has recently been found that New Yorkers would rather place their bets in New Jersey which is a 20-minute train ride away than drive upstate where licensed betting businesses are.

Eilers & Krejcik estimates that 837 million US dollars of bets are being made by New Yorkers in New Jersey. If you do the math, New York is basically losing potential tax revenue from this state that’s around 6.2 million US dollars.

You might think that New York would immediately turn things around knowing that this is what’s happening, but it may still take a while before online betting becomes available to the locals.  This is quite evident from the recent budget release that Governor Andrew Cuomo had for this year.

Many were hoping that the governor would already include online betting in the budget but things turned out differently. Cuomo appears to be resistant to expanding the betting industry in New York. Cuomo even said, “This is not the time to come up with creative, although irresponsible, revenue sources to solve a problem which doesn’t really exist.”

Although not specific, many think that this is veered towards the push for online betting in New York. The only gambling-related scheme included in the budget is a minor gambling expansion scheme that will most likely allow more kiosks to be available in licensed betting casinos upstate.

Now, the budget has yet to be finalized and Senator Joseph Addabbo Jr is still thankful that they have until April 1 to persuade Cuomo and include online betting in official the budget. So far, things are already looking up as more legislators are backing up Addabbo with this, including assemblyman Gary Pretlow.

If they do succeed persuading Cuomo before April 1, then it’s possible that online betting can still be launched in New York before the year ends or by early next year. However, if they don’t, then the locals may have to wait until late next year or even the following year. This is, of course, if Cuomo has already changed his mind about the matter.

For now, there’s just really no definite answer whether online betting is likely to come to New York soon or if it will still take quite some time.

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