New York legislators are set to sit down and consider a new bill proposed by Assemblyman Gary Pretlow, which would legalize sports betting on mobile devices, in licensed casinos and in designated wagering lounges across the state.
The proposed bill, A06113, seeks to amend the current law in place which gives way for racing, pari-mutuel betting and breeding laws, in order to allow sports betting across New York.
If the bill were to be approved, punters over the age of 21 will be able to bet on both professional and collegiate sporting events. High school competitions, however, will not be permitted.
Operators which secure a licence are due to be taxed at a rate of 8.5% of gross sports betting revenue, which the bill states will be split between funding a number of causes, including problem gambling education and treatment efforts.
In addition to this, the collected taxes will also go towards covering the cost of regulation, which will be monitored by The New York State Gaming Commission.
Licensed casinos will also be obliged to pay a “royalty fee” of 0.2 per cent of the amount wagered on sports events conducted by registered sports governing bodies.
Under the legislation, customers will be permitted to both make withdrawals and deposits from their mobile account in-person at a licensed casino or via affiliated premises.
Authorised electronic payment methods and other Commission-approved means will also be accepted, however licensees must ensure that mobile betting servers are located at the facility.
While the bill did not state how much operators will pay for licences, it did clarify that casinos which seek to offer mobile sports betting will be permitted to work alongside a third-party partner, providing that the partner is also licensed by The New York State Gaming Commission.
If the bill were to be passed by the state legislators, it could open up the possibility of in-stadium, legal sports betting. Madison Square Garden (MSG) has already applied to create a trademark for its MSG brand, citing sports betting purposes.