- New York Governor Andrew Cuomo made comments suggesting that regulated sports betting could be the next big wave of revenue for the state of New York.
- ALBANY, N.Y. – Sports bettors and online gamblers alike have been battling for the right to engage in their favorite hobby for years now.
- In the state of New York, the battle of state-sponsored online gambling has been hard-fought, with physical sportsbooks just making the cut in terms of legalization.
New York Governor Andrew Cuomo has been a roadblock in the quest for legal online gambling in the Empire State, but a recent COVID-19 relief briefing has the official possibly thinking otherwise.
In the briefing Cuomo suggested that sports betting could be the next big way to help states like NY get back on their feet financially following a devastating 2020 year.
“Are there other ways to get revenue? How about marijuana? How about sports betting?” stated the Governor in the televised meeting.
The Governor’s statements might have come in jest, but they signify a larger culture change that appears to be affecting the opinion of major decision-makers in the government.
Cuomo had previously been opposed to state-sponsored sports betting, stating that he believed it would require a new constitutional amendment. Even just the mere mention of sports betting is a positive sign in this fight for freedom of sports wagering, and online gambling at large.
It makes sense that 2020 would be the year to consider new options. Currently, New York is in a debt of more than $50 billion between state and local governments. With the prospect of a stimulus check slowly waning, officials are looking at other options to recoup the losses caused by the pandemic.
The Governor has probably seen the statistics and success of nearby New Jersey, who just brought in $50.6 million in sports betting revenue in the month of November alone.
A huge portion of that money comes from New Yorkers who cross the border to place their wagers. Just a fraction of that money staying home could have a monumental difference in the bottom line.
As this battle continues to evolve, there will be more and more important officials considering the options of online state-sponsored sports betting in the near future.