NY Sports Betting Bills Start To Move, As Key Lawmakers Agree On Identical Language
"So what’s in the NY bill?
The effort to legalize NY sports betting would allow for wagering at the state’s gaming facilities through partnerships with four existing commercial casinos in the state. Those would include horse racing tracks, off-track betting parlors and Native American casinos. It would also allow for mobile wagering.
Existing state law allows for wagering to take place at the commercial casinos in the state, but there’s been some question of whether New York would let that move forward without provisions that allow other gaming interests to get involved.
Sports betting revenue would be subject to a tax rate of 8.5 percent.
The most interesting part is that the pro sports leagues that have been lobbying all over the country for sports betting provisions look to be close to victory. Those efforts — led by the NBA and Major League Baseball — have resulted in provisions they appear to like in New York
The bills now say that a “royalty” of a quarter of a percent of all wagers must be paid to the leagues on which wagering would occur. In the old Bonacic version of the bill, that was called an “integrity fee.” The bills also give the leagues the right to dictate where some forms of data come from and codify direct involvement for the leagues in integrity monitoring and any investigations that might come up."
