New York Regulators Sign Off On Sports Betting For Upstate Casinos

New York legislators cleared the "last major hurdle to legalizing sports wagering" in the state, as they signed off on "new rules for upstate casinos," according to a front-page piece by David Lombardo of the Albany TIMES UNION. The expansion of wagering will "apply to the four commercial casinos and seven full-service Indian-owned casinos." The new rules adopted by the state Gaming Commission "do not allow online sports wagering." While wagering on professional sports is allowed, the rules are "more restrictive for college sporting events, with a prohibition on games in New York or involving New York-based collegiate teams." Limiting sports gambling to the casinos is "expected to generate a fraction of the interest that would come from a mobile option," which accounts for more than 80% of the activity in New Jersey. If New York is limited to the casinos, about $48M in gambling is "expected when the market is fully up and running" (Albany TIMES UNION, 6/11).

TIMING TO BE DETERMINED: In New York, Don Cazentre noted most estimates say the state's sports books "should be operating by about Aug. 1 -- ahead of the upcoming football season." Del Lago Resort & Casino GM Mark Juliano said that the "exact timetable for applying and obtaining a license to operate is still a bit uncertain" (NEWYORKUPSTATE.com, 6/10).

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