NY Sports Betting Changes To Futures, Problem Gambling Nixed From Budget

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NY sports betting

A pair of gaming items, including the ability to place proposition wagers on New York sports betting award futures, were removed from the state budget, which was finalized this weekend. 

Language that would authorize 1% of online NY sports betting tax revenue be used for problem gambling services was also struck. 

Lawmakers will revisit both gaming items during the post-budget session, Sen. Joe Addabbo told LSR

Addabbo miffed over NY sports betting removals

State law prohibits New Yorkers from betting on award futures like MVP, Cy Young and Rookie of the Year at legal sportsbooks. 

Addabbo was more surprised that the addiction issue did not make it. 

“To me, that was a no-brainer,” Addabbo said. “Prop bets, we’re going to look at. I’m always more confident in my side (the Senate) than the Assembly side, but we’ll look to do prop bets post-budget as well.” 

NY sports betting funding

Online New York sports betting currently contributes $6 million annually to problem gaming help. It could have been $3 million more.

If the 1% language had been approved, it would have been nearly $9 million for the 2023-24 fiscal year. Online sports betting generated $898.5 million in tax revenue from April 2023-March 2024

“It gives me some homework to do. I just hate missing an opportunity,” Addabbo said. 

Problem gambling helpers drove language

The hope had been the additional money could help fund a 24-7 or peer-to-peer service to help problem gamblers. The NY Council on Problem Gambling has been pushing for more resources. 

“This is their thing. It came from them,” Addabbo said. “And to shoot them down, I thought, ‘Fine. Ok. We’ll look to pass this in both houses, and then let’s see what the Governor does.’ It’s frustrating. It’s not disappointing. It’s the right thing to do.” 

NY push for online casino gaming

The online casino gaming push backed by Addabbo also failed to gain traction this legislative session. 

Addabbo hopes to re-engage with the Hotel and Gaming Trades Council. The HTC opposes iGaming expansion, as cannabalization concerns remain with the union. 

“I want New York to be the model for other states,” Addabbo said. 

Timeline for casinos also on docket

Addabbo would also like to push the timeframe forward for the awarding of the three downstate casino licenses. 

“Because those three licenses sitting on a shelf for the next three years, with thousands of jobs and billions of dollars for the state, that does New Yorkers no good at all,” Addabbo said. “I’ll always remain optimistic that we can at least have a conversation.”