As New York is faced with a $15 billion deficit, Governor Cuomo sees the need of new ways to bring income for the state. One of the high profit ideas is related to legalizing mobile sports betting.
The legalization of the practice will allow customers to bet on their favorite sports team or players in real time from the comfort of their homes. Details are not clear yet, but since 20 other states currently provide sports betting options, New York can do it too.
At least this is what the Akwesasne Mohawk Casino hopes for because right now, if a player wants to place a bet, they are allowed to do it only in person at the physical casino property.
In November 2018, the casino implemented measure to facilitate sports betting, such as the opening of the Sticks Sportsbook and Grille, a one-stop-shop for sports betting, as well as the opening of kiosk all around the casino.
Chair Fuller, the director of communications at the casino, considers measure to be huge success since people are constantly coming to the casino.
The sports betting demographic is men between 18 and mid-30s. With mobile sports betting, they would have all the options right at their fingertips. They can wager up to $1,000 per bet, as well as place multiple wagers on games, players, teams, quarters or the whole game.
“Changes daily too, there are different odds that come out every single day,” said Fuller.
According to the casino representative, if sports betting is allowed, all players will have to be within the state borders and the mobile app interface would be the same as the one in the casino.
More Money to the Casino, Less Money to the State
According to Governor Andrew Cuomo, legal digital sports betting would bring bigger income for casinos than for the state. Which means that, although many states opt to have their sports betting services run through casinos, this might not be the best option for New York.
He said: “We want to do sports betting like we do the lottery.”
This means that casinos would be cut from the process and sports betting would be handled by the state’s lottery instead.
Robert Mijuca from the state’s budget office said: “The way to the governor is proposing is that the state can get up to $500 million a year instead of 50 and the money would then go to the state budget.”
He added: “Otherwise, for the bettors, it’s seamless and it’s exactly the same but the state gets the money versus others.”
The Akwesasne Mohawk Casino still has its hopes up that New York will follow other states’ lead.
Right now all the bets are placed at land-based sportsbooks and winnings are collected in person. This might change with mobile sports betting.
Source: “New York looks at mobile sports betting to pay off debt”, WCAX, February 9, 2021
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