New York will not have sports betting this year, at least not in the full strength form that’s being enjoyed by bettors in Delaware and neighbouring New Jersey. The two bills that were making their way through both houses ultimately foundered as state legislators shut this year’s session on Wednesday.
The failure to sign off the two bills and allow sports wagering will be rued particularly by the sports leagues, as both bills made clear provision to pay integrity fees to the tune of one-fifth of a percent of all wagers. Beyond the lost potential revenue, it dents their hopes of convincing other states to build integrity/royalty fees into any new sports betting legislation. The leagues were hoping to use New York’s adoption of integrity fees as a model for other states to emulate.
There is, however, still a slim chance that a watered down version of sports betting might be allowed under a law passed in 2013, but the consensus is that there will be no major sports betting development in New York for at least another 12 months. Under existing law, four upstate casinos could gain approval for sports betting. But that law does not include mobile gaming or racetracks.
SBC Americas analysis – with the signing of these two bills running so close to the wire, it was always going to be a big ask to get them over the line. Has NY missed a big opportunity? Only time will tell, but it’s likely that bettors looking to make a legal wager will consider skipping over into New Jersey where they’re already taking regulated bets. The big loss here, though, will be felt by the sports leagues who have just lost their model state in the ongoing pursuit of integrity fees.