NY Launch of Online Sports Betting: $2.4 Billion in 5 Weeks Bets

As of Friday, New York had collected about $78.5 million from that tax, far more than the $49 million that State budget office It was originally estimated it would receive in the first three months of 2022. That estimate was recently increased to $108 million, and the state is also expected to collect around $200 million in license fees from operators.

“It was our first month, and we were,” said state Senator Joseph P. Addabbo Jr., a Democrat from Queens who chairs the committee on racing, gaming and betting. is at 2 billion dollars. “Surprise. Amazed at these numbers: It’s unbelievable”.

And new options for gambling could be rolling out. Last week, the president of the New York Yankees, Randy Levine, express support for a betting kiosk at Yankee Stadium, following the lead of professional sports franchise. Such a plan would be part of an expansion of bets into stadiums, tracks and arenas, something that Mr Addabbo and his Council counterpart, Gary Pretlow, a Democrat Westchester County, looking to legalize this year in Albany.

The pair will also drive the expansion of new brick-and-mortar casinos – with on-site bookmakers – something, Mr. Addabbo said. supported by Governor Kathy Hochulanother Democrat, with many developers calling for the inclusion of a casino in New York City.

Part of New York’s big launch stems from its size; Of the 20 states that currently allow residents to gamble on their phones, New York is the most populous, with potentially larger players like Texas and California still sitting on the sidelines.

But betting demand in New York is certainly intense: About a quarter of the nation’s mobile bets on the Super Bowl come from within the state, according to Sportshandle.comciting analysis by GeoComply, a Canadian geolocation security company.

“New Yorkers are die-hard sports fans and active sports bettors,” said Bill Miller, president of the gaming association. “They just don’t have a legal option. And now they did. ”

https://www.nytimes.com/2022/02/22/nyregion/sports-betting-ny.html NY Launch of Online Sports Betting: $2.4 Billion in 5 Weeks Bets

Fry Electronics Team

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