New York has been working on having online sports betting legalized for quite some time. But the discussion on whether a constitutional amendment is a requirement before passing a law has delayed any effort to allow New Yorkers to place wagers online. But almost a year after the latest step, which is to conduct a study on the feasibility of having an online sports betting market, nothing much is happening. And with New York still stalling on mobile sports betting, they are losing a lot of income opportunities. Especially from revenues on sports betting taxes.
Opening an online sportsbook, and using companies that provide bookie software solutions allows bookies to reach a tech-savvy sports betting market. The convenience of online wagering is proving to be such a huge success in neighboring states. New Jersey, for instance, is one the best models for this. They have over 85% of their betting handle done through online and through mobile sportsbooks.
New York Still Stalling on Mobile Sports Betting
The sportsbook pay per head industry earns millions from online wagering. Online sports betting makes gambling more accessible to customers. It also allows the customers to get more betting options from multiple sportsbooks and gambling markets. Right now, New Yorkers are limited to driving upstate to visit tribal casinos to place wagers. In most cases, its actually easier and cheaper to travel to New Jersey to place their sports bets. And it looks like this will be the case for some time.
The New York State Gaming Commission (NYSGC) has announced that they will be giving Spectrum more time to complete the online wagering study. The deadline for Spectrum to submit their study is on June 1. However, due to the coronavirus, most of their operations were stalled. They will have to extend the schedule for Spectrum to complete their study. And this is just one of the initial steps that state legislators need to take to even discuss any possible law on online wagering. For now, anyone who wants to bet on sports, or become an independent bookie, they will have to look elsewhere for options.