New York Wants to Legalize Sports Betting
Two amendments to the New York state constitution approved by the voters The Empire State are set to reach lawmakers during 2018.
One of those proposals could be very important for the state’s gambling industry, since it offers the possibility of legalizing sports betting in venues across the state, including casinos, racetracks, and OTB parlors.
According to Gary Pretlow, chairman of the Assembly’s Racing and Wagering committee said the lawyers were looking a way to speed up the whole thing. He added the right legal strategies would be essential in the process of avoiding the unnecessary waiting, which could take up to two years.
All Eyes On New Jersey
New York’s latest attempt to legalize sports betting depends on the outcome of New Jersey legal battle against The Professional and Amateur Sports Protection Act (PASPA).
This piece of legislation has been in effect for two and a half decades, effectively banning sports betting throughout the United States, excluding Oregon, Delaware, Montana, and Nevada.
The case is primarily focused on the fact that there is an illegal sports betting market in the United States, worth $150 billion on a yearly basis.
What’s In It For New York?
On December 4, the United States Supreme Court will hear oral arguments in New Jersey’s appeal of lower court rulings blocking its plans to allow legal sports betting at Atlantic City casinos and state racetracks. If the Garden State wins the case against PASPA, the three non-tribal casinos operating in New York could offer sports betting to their customers.
If sports betting gets legalized, experts believe that those casinos and racing track offering VLTs and OBTs would also want its piece of the market cake. Michael Wilton, Executive Director of the New York Gaming Association said this could be the likely scenario.
Still, everything depends on the December 4 hearing. However, the outcome of the case won’t be revealed until mid-2018.