A legislative attempt to allow fixed-rate betting on Thoroughbred races through a live system on New York’s fledgling mobile sports betting platforms has not received much interest in the race. this year in Albany and will have to wait until 2023 to try again, according to one of the head of the concept. supporters.
The bid by Senator Joseph Addabbo and Representative Gary Pretlow, who heads the New York Senate and Congressional racing and betting committees, is not expected to be considered, at least until 2022. , when the Legislature was hoping to wrap up its annual session on June 3, a day late. .
The act was enacted late last year, but has never gained traction in the face of reluctance to regulate the state’s lucrative new five-month-long mobile sports gambling industry. , which allows bets on a wide range of professional and some collegiate competitions. Other gaming issues also dominate the political air in Albany, such as lawmakers who passed this past spring a plan for the state to launch an accelerated process to three new commercial casino licenses in the lower markets.
Addabbo, who first introduced the fixed odds rule last November, has called his proposal a new and “seamless” way to bet on Thoroughbred races through betting platforms. Mobile sports betting, which was enabled this past January across the state. [Gov. Kathy Hochul this week said that mobile sports betting activities already have yielded $267 million in state tax revenues in just the first months of 2022, far surpassing years’ worth of collections in other states.]
As lawmakers work to wrap up the 2022 session, Addabbo on Thursday said a number of issues related to the game, including fixed-rate horse racing bets on the mobile sports system. , “needs more time to hone and fix some problems.”
Anything can happen in Albany until the bill is finally passed to close the 2022 session, which is on Friday, but Addabbo does not expect that the mobile sport of betting on horse racing will surprise, showing up at the last minute at the Capitol.
Addabbo said the 2022 session is the period to start discussions on expanding mobile sports betting to include live betting on horse racing, as well as listening to potential obstacles. “I think it’s a healthy discussion next year,” he said of the 2023 session, adding he hopes that the issue will be included in the next state-managed budget plan. will be announced in January.
The state has allowed a “shared wallet” system, in which bettors can spend money they have in their account with a mobile sportsbook operator to bet on horse racing in the form of pari- mutuel through the NYRA Bets pre-staking betting platform. New York’s mobile sportsbook program only allows fixed-rate bets, which Addabbo and Pretlow propose to expand to include betting on horse racing while keeping the country’s longstanding pari-mutuel system intact. state is used for betting on horses on track and terrain. The bill would apply to mobile sports betting on races at the New York Racing Association Circuit and Finger Lake Racetrack.
The measure will also allow various facilities — including sports stadiums, other racetracks and casinos at Aqueduct race track—To provide kiosks for people to place mobile sports bets.
Addabbo and Pretlow wrote in the legislative memo explaining the bill’s intent: “These changes are expected to result in billions of dollars in tax revenue for the State of New York.
The NYRA is one of the supporters of the bill.
“Allowing horse racing and betting content in the mobile sports betting market will grow the sport in New York, deepen the economic impact of the industry and attract new fans. “will be a huge win for New York and provide a tremendous opportunity for equestrianism,” said Patrick McKenna, a spokesman for the NYRA, in a statement Friday morning.
