Online Sports Betting in New York
New York has always been pretty vocal in wanting to legalize sports betting in the state, if not across the country. While gaming regulators have approved sports betting, the question left to resolve, is will the state enact online sports betting?
Most of what we see with gambling news regarding sports betting in the US is really-state based, since the law does leave the decision to allow sports betting to each state, Wire Act notwithstanding. A Bookie Agent would welcome the idea of online sports betting, as this allows them to expand to wider markets and increase profit margins.
But why is New York not releasing legislation on online wagering?
Online Sports Betting in New York: What They Need
When the legislation to enable and regulate sports betting was passed in New York, online sports wagering was left aside. Why? Because according to the law, the state will have to amend their constitution, which can be done through public referendum. Some legislators argue that there is a loophole. They argue that online wagering can be done so long as it is within the state. Another thing to consider, is that those who bet must register first – in person, in designated casinos. The New York State Gaming Commission will also review and decide on this matter in the months to come.
As to what citizens of New York think about? The Siena College Research Institute released a study that details an even split with those who want online sports betting and those who won’t. 44% approve, 44% do not. As to the specifics, Democrats are against, while the Republicans are for the vote. Votes from the suburban areas are a bit in favor, while those in more urban areas are undecided. Also, its men who are in favor of this, while the women are against it.
If the referendum will push through to legalize this, the vote can easily sway in either direction. Either way, a decision needs to be made soon. With neighboring states such as New Jersey raking in the money, the state is losing out on potential revenues that could greatly contribute to the state’s coffers.