ALBANY, NY – New York State approved mobile sports betting last spring, but implementation remains in the works.
NewsChannel 34’s Corina Cappabianca has more on the timeline of what’s happened so far and what’s ahead.
Back in April, the legislature passed mobile sports betting as part of the $212 billion state budget.
Online sports wagering is anticipated to bring in $500 million annually once it’s fully operational.
((Andrew Cuomo, Former Governor))
The law allows the state to directly operate mobile sports betting. So, the $500 million will go to the state.
That money will go to education, youth sports and fighting gambling addiction.
In July, the New York State Gaming Commission put out a “request for applications” for mobile sports wagering platform providers.
In a statement a spokesperson for the Gaming Commission said today that “review of applications continues.”
The Commission needs to choose at least two platform providers and four operators.
Some of the names interested in setting up operations include DraftKings, bet365, and BetMGM.
Before December 6th, the Commission is to select applicants considered to receive a license.
Those applicants will then be given time to amend their paperwork if needed before licenses are awarded.
There is a $25 million fee for platform providers awarded a license.