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How much could mobile sports betting bring to New York State?

Posted at 11:58 PM, Jan 07, 2021
and last updated 2021-01-08 00:01:45-05

BUFFALO, N.Y. (WKBW) — Due to the Coronavirus, New York State is in need of cash.

We need $15 Billion, which is our deficit," Governor Andrew Cuomo said.

The Governor is expected to announce plans to legalize mobile sports gambling during his State of the State address next week. New York would become the 12th state to allow it, but plans to do things differently.

"We want to do sports betting similar to how the lottery is run," Cuomo said.

In many states, casinos or other private entities run mobile sports betting so the state only gets a small cut of the revenue.

"The billions of dollars that are being wagered are going to casinos and not being made by the taxing jurisdiction," Robert Mujica Jr. Director, New York State Division of the Budget, said.

That is what is happening in New Jersey, the state reports an average of $45 million profit every 12 months of the last three years. New York's plan is to have the entire program run through the state, which will create much higher dividends

"So the difference in the estimates is a state earning $50 million a year v.s. $500 million a year," Mujica Jr said.

As of now it is unknown when a full legalization of mobile betting could take place. 7 Eyewitness News did reach out to Seneca Casinos for comment and they declined waiting for more information. Batavia downs released a statement saying "We're very excited by Governor Cuomo's support of expanding mobile sports betting in New York. Our team looks forward to working with the Governor's team, the professional staff at the Gaming Commissions and chairs Addabbo and Pretlow on making New York's system the best in the country."