Three years. This is the time that the state has had to consider allowing the expansion of the sports betting market and allow for mobile sports betting in New York. Now, New York finally gets mobile sports betting- but is it like most states like their successful New Jersey? The answer is no.
The state budget for fiscal year 2022 passed, and mobile betting is included in the bill. However, the terms are what Governor Andrew Cuomo wants, and it is far from what New York needs. Imagine the trouble of spending time and money conducting a study on sports betting in New York, just to throw away the data and favor a state-run lottery-style sportsbook? What about market competition? Won’t there be more revenue if there are more bookie software providers running New York online sportsbooks?
Mobile Sports Betting in New York
The law now allows the state to directly operate mobile sports betting in New York. The Governor has been adamant about this, as he does not want casinos as middlemen, so that the state solely gets the income. The state is expecting the projected revenue to hit $99 million for 2021-2022. While this may be a good number, according to experts from PricePerPlayer.com, getting this much revenue from limited resources will be challenging.
The state’s gaming commission can get bids from would be platforms and operators. Those who will partner with Native American tribes or nations will get more points during the bidding process. There is no news if existing tribal casinos will be allowed to offer online betting throughout the state. They do, after all, offer mobile betting within the premises of their casinos. Given the lack of specific details, it will be a while before we actually see this happen. And even when it does, there is also no guarantee that it will be able to compete with the sportsbooks from the ultimate sportsbook pay per head providers today.