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New York lagging behind in sports betting revenues...

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vixen777

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Like several of those states, New York prohibits mobile betting (using phones or other devices), and instead requires that players place their bets in person at one of the four casinos. Like some others, New York also prohibits bets on in-state college teams (like Syracuse University) and on any college sporting event taking place in the state.

Plus, New York got off to a later start than some states, including neighbors like New Jersey and Pennsylvania, which launched their first Sportsbooks in 2018.

Commercial (non-Indian nation) Sportsbooks have been open since July at Rivers Resort & Casino in Schenectady and Tioga Downs in Nichols west of Binghamton. Resorts World Catskills near Monticello in Delaware County and del Lago Casino & Resort near Waterloo in the Finger Lakes opened their Sportsbooks in August.

Since then, Sports Betting has generated less than 4 percent of the total gaming revenues at those casinos. The casinos pay the state a sports gaming tax of 10 percent -- meaning the stated received $600,000 from sports bets to date.


New Jersey, which has more betting venues than New York and allows mobile wagers, is now challenging Nevada for the lead in sports gambling revenues. Pennsylvania, which allows mobile bets and bets on in-state college teams, ranked third in revenues among states in a recent survey and is growing rapidly.

New York is not close, though it should be noted that the revenues reported to the New York Gaming Commission do not include Sportsbooks operated at Upstate New York’s Indian nation casinos. (Three casinos operated by the Oneida Indian Nation in Central New York are running Sportsbooks, while one is coming soon to the Akwesasne Mohawk Casino in northern New York).

“We estimate that New York will only realize about 5% of it’s true Sports Betting potential if things stay as they are now,” said Chris Grove, managing director of Eilers & Krejcik Gaming,
SOURCE
 

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