Visit Us On TwitterVisit Us On FacebookVisit Us On Linkedin

Is There No Hope for New York Online Sportsbook Industry?

New York has been struggling in terms of coming up with a decent sports betting policy. While a lot of you bookies would want to maximize your sportsbook profits, New York seems very reluctant to support a growing industry. Which begs the question: Is there no hope for New York online sportsbook industry?

Since last year, New York politicians are going back and forth over the technicality of allowing online sports betting. Legislators believe that they could draft online sports betting bills and pass them. Then, the local government will work towards implementing it. But some politicians, including New York Governor Andrew Cuomo, think otherwise. Cuomo believes that a constitutional amendment is necessary before any law on online sports betting could be made.

New York SportsbookNew York Online Sportsbook Industry

Instead of having a robust online sportsbook industry, Cuomo compromises by having existing casinos offer sports betting. But this measure is half-baked at best: people will have to travel upstate to place wagers. Residents find this inconvenient as they can just as easily travel to New Jersey to place wagers with more betting options. Online sportsbooks are also very popular, with many Pay Per Head testimonials pointing to a secure and profitable sports betting system.

Sadly, it looks like we will not be seeing online wagering in this year. Even Cuomo’s budget is too limited for wide-scale online gambling efforts. Instead, his budget only includes a simple project. This is for existing sportsbooks to extend their operations through kiosks. There is a proposal for betting stations within their properties, but outside of the actual sports hall.

The only hope the state has is to have legislators draft and pass an independent bill. This online sports betting bill should be passed before the session ends in June. Until then, New York residents will have to look for other options on finding the best betting options elsewhere. And the local government will not be earning from any of it.