A New York sportsbooks hearing on Jan. 31 in Albany will examine the state of the now 1-year-old legal sports betting marketplace.
At 9:30 a.m. on Jan. 31 in Hearing Room A of the Legislative Office Building, the chairmen of the Assembly and Senate committees on racing, gaming, and wagering will hear from pre-registered speakers.
The meeting invitation emailed to invitees on Friday said:
This hearing will review Mobile Sports Wagering’s first year in operation and its impact on the New York State Budget.
The New York online sports betting marketplace celebrated its first birthday on Jan. 8. As for its impact on the state budget, Gov. Kathy C. Hochul calculates more than $909 million in tax revenue and licensing fees came from the state’s nine sports betting sites during that time. New York’s sportsbook tax rate is 51%.
New York Sportsbooks Hearing Is Public, Recorded
Even though the NY sportsbooks hearing is invite-only, it’s a public meeting. The form in-person speakers must return by Jan. 27 lets them know the testimony will be recorded and “likenesses may be included in any video coverage shown on television or the internet.”
The same notice applies to those returning written testimony by their Jan. 30 deadline.
The meeting notice didn’t say who was invited, only that they were welcome to “present pertinent testimony” for 10 minutes each. They must also provide the committees with 10 copies of any prepared testimony beforehand.
New York Sportsbooks Hearing May Have Tangential Topics
The joint public hearing unites the New York State Senate Standing Committee on Racing, Gaming, and Wagering, and the Assembly’s Standing Committee on Racing and Wagering.
The chairmen of both committees have bills pending in the New York State Legislature.
Plus, they’re advocates of legal gambling expansion, and three Downstate New York retail casino licenses are scheduled to be awarded this year. On Jan. 3, a board appointed by the New York State Gaming Commission (NYSGC) opened up the application process for licensee hopefuls.
Back in the legislature, state Sen. Joseph P. Addabbo Jr., D-Ozone Park, introduced a bill on Jan. 17 that would increase the number of legal sportsbooks from nine to 16 by the 2025 Super Bowl. The proposed legislation also cuts the 51% tax rate to 25% once there are 15 or more sports betting sites.
State Assemblyman J. Gary Pretlow, D-Mount Vernon, sponsored a measure on Jan. 17 that would legalize online poker.
Both lawmakers favor legalizing New York online casinos, which neither has yet introduced as a bill this year.
Meanwhile, RSVPs are likely arriving at their committees from invitees to the New York sportsbooks hearing.