Good news for gamblers and sports enthusiasts alike: even the government recommends betting. Thus, the Governor of New York, Andrew Cuomo, not only wants to build gambling establishments in his state, but has already included future revenues in the budget plan that he plans to present in Albany.
Along with the good news, there is bad news: the governor plans to arrange all this at four New York commercial casinos. In his report, he did not say anything about other interested parties, such as New York racecourses or online casinos.
According to him, he and other investors have invested in casinos in the northern part of the state and hopes that this will benefit not only business, but also New Yorkers.
Legal sports betting
At a referendum in 2013, state residents voted to allow four casinos, changing the constitution, allowing gambling in the casino. At the same referendum, the federal ban on casinos was canceled and sports bets for new gambling establishments were approved.
After that, the residents of the state opened a new era of gambling, making sports betting in New York state legal. True, they did it only for four casinos in the northern part of the state. After this, the New York Gambling Commission had only to develop the management and taxation of a previously banned business.
Everyone expected that the government will pass the bill in 2019, which will allow other operators to exist in the state, but apparently they are going to do this in the future, after making additional amendments to the constitution through a public referendum.
Market expansion prospects
So far, representatives of The Buffalo News, along with representatives of the governor, have reported that Cuomo wants only 4 casinos in the northern part of the state to remain legal.
Nevertheless, various operators believe that they can offer gamblers to bet on “class III games” in other places in the state.
Meanwhile, Cuomo wants to use the proceeds of sports betting with the proceeds from the sale of legalized marijuana to supplement the budget with at least $ 3 billion. In addition, according to an analysis conducted by Eilers and Krejcik Gaming, this amount can be increased by another 532 million dollars a year, twice as much as in Las Vegas, but provided that the market is expanded by at least one more casino.