Cuomo Indicates He’s Open To Legalized Mobile Sports Betting

[OrangeXtreme]

 

[NateW]

**I’m open to it, just gotta figure out how I can tax the ever-living shiz out of it**

 

[bpo57]

NJ's total amount of sports wagers in November was $931 million. Up 65% from a year ago. Highest in the nation. They collect ~ 8.5% on in person wagers and 13% on mobile/online. Breakdown of betting was 94% mobile/online and 6% in-person. I believe total revenue for sports books in NJ for November was $50 mil or so. I think annual tax revenue is running at a $75 mil rate.

NJ to NYS - take your time fellas.

 

[upperdeck]

How much of NJ money is coming from people who would be betting in NY too?

 

[bpo57]

How much of NJ money is coming from people who would be betting in NY too?

Lots of NYers make the quick trek into NJ to place bets then head back home. I'd guess 20-30% of NJ's action comes from NY but that's just a wild guess.

 

[Arangeman]

How much of NJ money is coming from people who would be betting in NY too?

A ton. The Fort Lee u-turn, the ferry ride to Hoboken... no one is driving upstate to wager Andy. Even us upstaters have the Great Bend park n wager.

Its a least two years away in NYS. Morons

 

[Arangeman]

Lots of NYers make the quick trek into NJ to place bets then head back home. I'd guess 20-30% of NJ's action comes from NY but that's just a wild guess.

At least. Tho the policy keeps the majority illegal and untaxed in NYS more than it siphons to Jersey.

 

[upperdeck]

only 2 yrs if he doesnt stay stupid on needed changes to the NY constitution.. if we can fast track everything else in the state why not that question to the NY SC..

 

[OrangeXtreme]

 

[IthacaBarrel]

Legalize Sports gambling and weed and move onto something that matters NYS

 

[cliftonparksufan]

Legalize Sports gambling and weed and move onto something that matters NYS

I won't go off on a tangent about how I feel about our governor but those two should be easy revenue streams. God knows we need it with everyone bugging out.

 

[FloridaFan]

Allow full casinos as well. Let’s get some table games rolling

 

[690West]

How much of NJ money is coming from people who would be betting in NY too?

Billions with a B

 

[upperdeck]

imagine the number of people living in NJ who can only bet when they get back home too after working in the city all day.

 

[STEVEHOLT]

so you have to 10 percent on most nfl lines just to play (-110)
then you have to pay a percentage to the govt.

seems likely you'd have to hit 55-58 percent to be profitable. thats a big ask.

 

[upperdeck]

nice to get a mobile version.. too bad they want it to be such a lame mobile version doomed to failure..

Since most people dont make money gambling anyway I dont think -110 vs -105 matters all that much

The avg person isnt gambling enough that the last .05 adds up to much either way. I mean if you are betting 1000 a yr its what $50..

some states are bit smarter and its -105

Some people will stay using off shores for better lines, a large number will use it because its legal and easier to use.

 

[cusefan88]

I'm in CT but not far from NY border. If NY gets mobile first I'll make the drive over. Easy. These states are leaving money on the table.

 

[Arangeman]

nice to get a mobile version.. too bad they want it to be such a lame mobile version doomed to failure..

Since most people dont make money gambling anyway I dont think -110 vs -105 matters all that much

The avg person isnt gambling enough that the last .05 adds up to much either way. I mean if you are betting 1000 a yr its what $50..

some states are bit smarter and its -105

Some people will stay using off shores for better lines, a large number will use it because its legal and easier to use.

It’s amazing. Just do what NJ is doing. Stop screwing the consumer. One book, one set of odds, margins too tight for the book so we will be paying 15-20% vigs. It’s a terrible way to do it and only hurts us.

 

[upperdeck]

it really is just a matter of having no one in the state that understands the business and the books not really caring since they have a market that has few legal choices. volume drives the business