The New York gambling market has been stagnant for a long time.
State legislators have been unwilling even to discuss expanding the gambling market beyond the four retail facilities they currently have.
But it looks like this is about to change, as lawmakers have included mobile sports betting in Budget Bills for 2022.
Moreover, these budget proposals will be considered in two and a half weeks and could be the first step towards expanding the New York gambling market.
The proposal
The most possibilities’ proposal is A 1257, which already got approved by the Racing and Wagering Committee in January.
This proposal gives New York’s four commercial casinos and three tribal operators up to two mobile skins. It would allow Off-track betting facilities to partner with one of those casinos to set up wagering kiosks at their facilities.
There would be a $12 million licensing fee under the bill and the retail sports betting revenue tax rate would be 8.5%, with mobile betting being taxed at 12%.
State lawmakers have until April 1 to decide on the future of these proposals and the incorporation of mobile gambling.
Stop leak
With these changes in the state’s gambling legislation, New York seeks to stop the flight of gamblers that it currently lives.
For example, according to some reports, 25% of New Jersey’s gambling activity comes from New Yorkers.
In addition to achieving these changes, New York could become the largest sports betting market in the United States.
Implications for Bookies
Any change in the US gambling market has implications for the operations of the Pay Per Head Bookies.
In the case of New York, changes in the legislation could bring benefits to bookmakers. As residents of the state will begin to consume more mobile betting platforms.
As a result, bookies that have a robust infrastructure will be able to expand their business and serve more clients.
For this reason, it is so vital that the bookies are partner with a reliable y reputable Pay Per Head partner.
A reputable Pay Per Head provider will give bookies the ability to serve any market and any type of clients. Which means that they can have a profitable betting business.
