Communicated Content-Punters can finally rejoice, after a long battle to see the change made, it seems that change is finally here as New York state has announced that a budget has been approved for 2022 to allow legal online betting for the state. There has been plenty of conversation to get to this point but there are certainly some stipulations that could certainly benefit the state if implemented correctly the first time, and seem to follow the successes, or learning from the difficulties of other states. In a statement earlier this year, Gov. Cuomo stated “We want to do sports betting the way the state runs the lottery where the state gets the revenues. Many states have done sports betting, but they basically allow casinos to run their own gambling operations. That makes a lot of money for casinos, but it makes minimal money for the state. And I’m not here to make casinos a lot of money. I’m here to raise funds for the state. So, we have a different model for sports betting.”
Ultimately it all comes down to the tax that is levied on sports betting, it is something that has been suggested for other states previously as a potential way to recover from the pandemic by suggesting tens of millions per year could be brought into the state and serve as some sort of a recovery fund. Given the changing support for online sports betting too, as it has been suggested that over 90% of all betting done in the neighbouring New Jersey is done online, there’s certainly huge potential for success too – the same figure puts around 20% of New Jersey wagering occurring from New York City too, so the numbers are already there.
Plenty of news will certainly follow as more details around the betting budget are ironed out and consumers gain a better understanding of what to expect, but there will be plenty looking to check these betting tips and many more in preparation for the next year with the possibility of sports betting being much closer to home, and it’s an extremely exciting time for all those who’ve been waiting for the change to be made too.
Eyes will now start to turn towards other states that are slower to adopt support for online sports betting or online gambling as a whole, whilst there will certainly be those unwilling to make the change, this shift may be enough to get a few others on board at least, and in its entirety may cause a cascade for those doing so. If NY is able to get things going in the right direction, there could be huge benefits in the future at least, and it seems there is certainly a lot of positivity early on showing that things will look to move in the right direction, and away from the direction other states have had with casino ownership leading to higher competition for customers, and the possibility of unsafe sites.
