The response to New York Governor Andrew Cuomo’s long-awaited endorsement of legalized sports wagering in the Empire State so far has been positive.
After Cuomo acknowledged New Yorkers are utilizing online betting options in nearby states, or the illegal market, and that capturing tax revenue would help address record budget deficit from the coronavirus pandemic, an industry analyst and a New York state senator gave their approval.
Sara Slane, gaming industry veteran and founder of Slane Advisory, said the Governor’s public stance, “immediately positions New York to soon lead all other states and generate significant revenue for state coffers.”
“We have consistently seen that bettors want to wager on sports and mobile, just like all other industries, and it is the modern mechanism for the industry to drive the most revenue back to the state,” Slane said in a statement. “New York, with a population of nearly 20 million, dwarfs any other state with legal betting, and should have no problem regularly topping $1 billion a month in wagers.”
NY State Senator Joseph Addabbo, Jr., who serves as chairman of committee on racing, gaming and wagering, chimed in. “It is encouraging to hear that Governor Cuomo will embrace mobile sports betting in his State of the State Address,” he said. “By legalizing mobile sports betting, New York will be able to reap the benefits of the economic gains it will create and help the state rebuild after the COVID-19 pandemic, in addition to increasing educational funding, addressing illegal activity in the state and assisting those with gaming addictions.”
Addabbo added he looks forward to working with the governor and his office to “efficiently implement” mobile sports betting for the people of New York.
