New York state has declared it endorsed a plan and set aside a budget for its fiscal year 2022 that would allow legal online sports betting in the state.
According to New York Gov. Andrew Cuomo, the proposed plan to execute online sports betting will be some type of a centralized model that will be controlled by the state.
Cuomo has said he intends to run the state’s online sports betting industry through the New York Lottery, which is controlled by the public authority. Under his proposal, the New York state Lottery would issue requests for proposals from a couple of online betting operators, which it could then permit out to other sportsbook betting companies.
“We need to run the sports betting the way the state runs the operations to gain most of the betting incomes. Other states have done sports betting through casino operators where they run their own betting operation. That make a lot of money for casinos, but not the state itself” Cuomo said in January about his arrangement.
“Furthermore, I’m not here to make casinos a great deal of cash. I’m here to raise serious income for the state. So we have an alternate model for sports betting.”
Cuomo’s proposition to have the New York Lottery run sports betting has been defamed by administrators for its absence of rivalry and legality concerns. It is not the same as how Pennsylvania and New Jersey run their online sports betting where they allow more casinos to operate and it drives higher competitions for clients.
Gov. Cuomo and New York’s administrative chiefs reported that a concession to the state spending plan has been reached, yet scarcely any different subtleties on the particulars of the online sports betting plan are known right now.