We have a budget deal, ladies and gentlemen, and it does include New York online sports betting, according to a release sent from the governor’s office.
Gov. Andrew Cuomo, Senate Majority Leader Andrea Stewart-Cousins and Assembly Speaker Carl Heastie have agreed to a $212 billion budget, which will include an NY online sports betting plan.
BREAKING: Cuomo and the state Legislature have come to an agreement on this year's $212 billion state budget.
— Dan Clark (@DanClarkReports) April 6, 2021
Updated Details On Sports Betting Plan Implementation
A release from the governor’s office confirms the state will issue a request for applications for two platform providers who will then work with at least four skins.
In the economic and revenue outlook for the fiscal year 2022 executive budget, the document noted providers would only be eligible if they have a current partnership with at least one of the existing licensed commercial casinos in New York, which limits providers to DraftKings, FanDuel, BetRivers and Bet365.
Also, according to the release, once the plan is fully phased in the state can expect upwards of $500 million a year in revenue.
Assemb sports bet sponsor @JGPretlow just now: still under negotiation but gov has major budget powers and he won't budge from his position. It would be 2 operators, high tax rate and min of 4 skins, no max.
— Tom Precious (@TomPreciousALB) April 6, 2021
It’s important to understand, however, that details of the plan have yet to be voted on. The sports betting plan will be included in the final introduced bill, the revenue bill, as state legislators and lawmakers work through the night to approve the final 2022 fiscal year budget.
Will Tribal Nations Be Included for NY Online Sports Betting?
In a phone conference with reporters on Monday, both Cuomo and New York Budget Director Robert Mujica said the state’s bill will honor the terms of the existing Oneida Nation compacts. The bill would not cut the nation or upstate counties out of potential online gambling revenue.
Online gambling is a complicated issue in the state, Cuomo said, and details need to be worked out. If a gambler places an online wager in Oneida Country, for instance, who would get the revenue from the wager? The Oneida Nation? The state? These details need to be worked out in a bill, he said.
Downstate Casinos Likely Off The Table for NY Sports Betting
Tom Precious of the Buffalo News reported earlier today that Assemblyman J. Gary Pretlow believes the creation of four downstate casinos will not be included in a sports betting deal.
Sources say downstate casino expansion off the table. Pretlow says still under discussion, but likely "something small,'' like the original — slower approach — by Cuomo to issue Request for Information to potential bidders, but not straight to RFP process.
— Tom Precious (@TomPreciousALB) April 6, 2021
