New York set for mobile betting as Governor Cuomo signs FY 2022 budget
Earlier this month, Cuomo and the New York legislature finalized a FY 2022 budget bill that contained provisions for legal mobile sports betting, including a $25m license fee, and bidding process for potential licensees.
Cuomo has now signed off on the bill, which he said would help the state recover from the financial losses it has suffered during the novel coronavirus (Covid-19) pandemic.
“There’s no doubt that our state will bounce back stronger and better than before, and in the interim, it’s critical we support the New Yorkers who helped get us through this crisis and take steps to rebuild an economy that works for all,” Cuomo said.
Among the measures set out under the budget bill are that the New York State Gaming Commission will issue a request for proposals to select at least two platform providers to operate sports betting, with these to receive licenses and offer at least four betting skins.
The Commission’s request for proposals will open no later than 1 July this year, with winning bids to be selected within 150 days of this date.
The bill also states that the Commission will develop a scoring system to determine the best bids, with extra points to be awarded to operators that have a revenue-sharing agreement in place with one of New York’s Native American tribes.