Things seem to be looking up for fans of New York sports betting. A Senate Committee recently approved SB 2616 seeking to expand sports betting options throughout the Empire State.
When this Bill comes into full effect, it will add season-long proposition bets and sports awards wagering to what is already a strong list of betting markets in New York state. The NY sports betting industry has welcomed this development, and is expected to make the options available for New Yorkers very soon.
On 11 February, the New York Senate voted on a Bill that sought to amend the horse racing, pari-mutuel wagering, and Thoroughbred breeding laws. The bill, SB 2616, initially sponsored by Senator Joseph P. Addabbo Jr, would expand the state’s sports betting markets to include wager on season-long propositions and future winners of sports awards like the Heisman Trophy. There’s even more. The Bill would also make it possible for bettors to wager on the outcome of novelty events, such as pre-game coin tosses.
The bill received fair hearing and was unanimously passed. As it progresses through the legislative process in the Senate, there’s hope that it’ll get the final nod from Governor Kathy Hochul when it eventually drops on her table.
New York continues to position itself as a sports betting destination. Since sports betting kicked off in the state, it has set out to dominate the game. In doing so, the taxes that the state has accrued from the gambling industry have proven to be a consistent source of funding for public institutions that include educational and charitable causes.
As SB Bill 2616 makes its way through the Senate, its supporters, and promoters will hope that the path ahead remains clear. As the driving force behind this amendment, and a long-term advocate of sports betting expansion in NY state, Senator Addabbo is not resting on his laurels.
Addabbo previously led efforts to introduce online iGaming and to legalize sports betting in the state, so he is certainly not new to these processes. If HB 2616 clears its final, important hurdle, it will most surely give a huge boost to the New York sports betting sector.
HB 2616 was not the only Bill making inroads in the Senate. Another Senate Bill, SB 2613, which seeks to give lottery winners the final say over any type of publicity, also received the nod from the Senate Committee. When this bill becomes law, lottery winners can choose whether or not to have their names and images displayed publicly.
As expected, not everyone is overjoyed by the sports betting expansion planned in Texas. About 15 states currently restrict the placing of any prop bets related to college teams, or players. A few industry stakeholders have been particularly vocal regarding their concerns.
NCAA president Charlie Baker is one of the opposers. He has repeatedly called for a nationwide ban on college sport betting, and has raised concerns about the integrity of youth sporting competitions should SB 2616 get the green light. His main concern is that young athletes would be “subjected to harassment” by bettors, when results don’t go their way.
New York has always been known for its love of sports, so it’s only natural that the sports betting sector is thriving in the Empire State. With SB 2616 steadily gaining traction, things are shaping up rather nicely for fans of sports betting in the state.
The introduction of more betting markets to the growing list of those already available could pave the way for even more new bettors to join the state’s licensed sportsbooks, as well as raising its profile as a sports betting-friendly destination.
