NY Online Sports Betting Can Earn $900 Million a Year
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- Category: Gambling Industry
- Created: Saturday, 19 September 2020 13:20
Legal NY online sports betting can net around $900 million a year for the state. It was according to an estimated made by an online sportsbook software provider. Once legalized, New York can become the biggest online sports betting market in the United States.
However, the passage of Senate Bill 17D is still pending. The bill authorizes the seven casinos in the state to open a mobile sportsbook. Some lawmakers are optimistic that online sports betting could be part of the revenue enhancement bill. Also, they will discuss the topic during the special session about the budget.
Senate Bill 17D would tax mobile sports betting revenue at a rate of 12 percent. Also, operators need to pay a licensing fee of $12 million. New York can become the largest online sports betting market in the US. At present, bettors from New York travel to New Jersey to bet on sports.
NY Online Sports Betting
According to sportsbook reviews, online sports betting revenue going to New Jersey would stay in New York once legalized. Also, the state can become the home of the most lucrative mobile sports betting industry in the nation.
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