- Senate Bill 7536 expands mobile sports betting to stadiums and racetracks in NY.
- Betting would take place via self-service kiosks.
- The bill was introduced shortly after mobile sports betting licenses were awarded.
Expanded mobile sports betting services are in the works for New York State. Senator Joseph Addabbo recently introduced a new bill that would allow stadiums and racetracks in the state to offer services.
Known as Senate Bill 7536, the measure lets mobile operators’ partner with professional sports stadiums and arenas, as well as off-track betting groups and licensed racetracks.
Because the Aqueduct Racetrack at Resorts World offers video lottery terminals, the venue would also be eligible for sports betting.
Expect Delays in Additional Services if Approved
One drawback of the new legislation is that there will be a delay in getting started. The bill states that an agreement between an operator and racetrack must be made but it will not be officially approved until one year after the bill goes into effect. For arenas and stadiums, such deals could take as long as 20 months to approve.
If the bill is able to pass into law, it would be official within 90 days. So, the wait time would start at the end of the 90 day period. The measure is currently with the New York Senate Rules Committee and must be approved before it can move forward.
It is unclear if the measure has support within Legislature. However, Senator Addabbo has been involved in every gaming effort in the state and it seems unlikely he would have introduced such a measure if he was not confident that the support was there to move it forward.
If the new bill gains ground and passes into law, it would give New York more options for sports betting, which will bring even more revenues to the state. The market would have much more potential by adding in more kiosks for wagering.
Mobile Licensing Process Concludes in Early November
The announcement of the new measure comes just a few weeks after mobile sports betting licenses were handed out by officials. Two bids that had nine operators each were recommended for licensing approval.
CBS New York
FanDuel led one of the groups that was recommended, including such operators as Bally Bet, DraftKings and BetMGM. Kambi introduced two proposals, but it was the one including Resorts World, Caesars Sportsbooks, Wynn Bet, PointsBet, and Rush Street Interactive that made the cut.
During the licensing meeting, it was agreed that participants will have to pay a high 51% tax on revenues. Operators will need to fork over $25 million to pay the fee for the ten-year license.