New York, 2 Other States Rush to Launch Full-Scale Betting Market in Time for NFL
Date Posted: June 1, 2018
Lawmakers in New York are pushing to approve a sportsbook bill before the current legislative session expires on June 20. Approving the bill before the date will pave the way for sports betting during football season in the state.
Joe Girardi, former manager of the Yankees, said that sports betting will become legal across several states when the US Supreme Court (SCOTUS) repealed the Professional and Amateur Sports Protection Act (PASPA).
“So I think it’s important for New York to be at the forefront and get something passed that protects the integrity of the game — this session.”
Joining New York in the race to launch a full-scale betting market in June are Delaware and New Jersey. Delaware’s state officials, however, are working to pass the bill to allow sports wagers before New Jersey.
New York’s Sports Wagering Regulations
Assemblyman James Gary Pretlow introduced the betting bill last Wednesday a version of the one introduced by New York State Senator John Bonacic. The betting bill features the controversial integrity fee used to pay US sports leagues such as the NBA, NFL, and NHL.
According to the bill, about 0.25 percent of sports wagers will be paid as integrity fee to the leagues. It is important to note that this is significantly less than the one-percent cut that the NBA and MLB are demanding. However, the fee will only be paid if the total sum paid amount does not go beyond two percent of the operator’s revenue. Operators will also be allowed to not pay the fee in case of a loss in their business. Meanwhile, the integrity fee will be classified as sports wagering royalty as per the sports betting bill.
While Pretlow and Bonacic are optimistic that the bill, set to be passed by June 20, has enough support from respective chambers, Assembly Speaker Carl Heastie disagrees. Heastie said that Assembly Democrats have yet to issue their opinion. Furthermore, New York Governor Andrew Cuomo also wants to make sure that legal sports betting goes through an in-depth study before it is passed.
Delaware’s Full-Scale Betting Market
Although Delaware already legalized sportsbook, the state is allowed to provide only parlay wagers for NFL games. Parlay bets were legally possible, thanks to the state’s grandfather status under PASPA. Because of Delaware’s status, multi-game bets are allowed after a federal appeals court ruled against sports betting.
With SCOTUS’ decision on PASPA, Delaware officials are preparing to launch a full-scale betting market within the state. The market will allow Delaware to provide single-game bets for any sporting events apart from NFL games. The Attorney General of Delaware even assured that there are no legal obstacles for the state’s full-scale betting market.
Recently, Delaware’s Department of Finance announced that single-game bets will be available in the three casinos within the state on June 5. These casinos are the Delaware Park, Harrington Raceway & Casino, and Dover Downs Hotel Casino. It is expected that on June 5, Delaware will be the first state to offer a full-scale betting market after the New Jersey case.
John Carney, state governor of Delaware, said:
“Delaware has all necessary legal and regulatory authority to move forward with a full-scale sports gaming operation, and we look forward to next week’s launch. We’re hopeful that this will bring even more visitors into Delaware to see firsthand what our state has to offer.”
Rick Geisenberger, finance secretary of Delaware, mentioned that employees from the three casinos of the state have been working closely with his office to prepare for the launch of the full-scale betting market. He assured that all the casino employees were trained on the rules of the upcoming sportsbook services that will be offered next week.
“We will continue to provide public updates and additional information through the Delaware Lottery ahead of next week’s launch.”
State of Legalized Sports Betting in New Jersey
New Jersey, the state that sparked the revolutionary change in the US sports betting law, will pass a sportsbook regulation and taxation bill on June 7. This bill will make New Jersey the second state to offer a full-scale betting market after Delaware. The news that Delaware beat New Jersey in the full-scale betting market race is disappointing for former state Senator Raymond Lesniak, the leading lawmaker that has been pushing for legalized sportsbook.
“I don’t know what to say. I’ve been battling for 10 years for New Jersey to have sports betting. It’s somewhat disheartening for Delaware to slip in before us. But in the long run, it certainly won’t hurt us.”
New Jersey officials said that the bill could bring US$13 million in tax revenue to the state within the next fiscal year. When the bill is passed, casinos and racetrack establishments will not be subjected to a customary waiting period that can last a month. State Senate President Stephen Sweeney said that the waiting period is unnecessary and added that New Jersey will likely approve temporary emergency regulations.
Punters in New York, Delaware, and New Jersey are expected to flock the regulated sports betting market for any type of wagers on various sporting events this month. The legalized full-scale betting market is also seen to give residents of the three states more reasons to look forward to the upcoming NFL season this September.