NY Sports Betting Online is coming soon! There are plans to push hard to pass sports betting bill before 20th June 2018! Hot on the heels of Delaware going live with sports betting on 05 June, and New Jersey signing a sports betting bill into law, New York aims to have their own state legislation signed-off before the end of June, hopefully making them the third state outside of Nevada to offer online sports betting.
Gary Pretlow, the New York statesman has finally submitted his revised New York sports betting bill for revision following the Supreme Court’s ruling of 14 May making sports betting legal – if so desired by individual states - of course. The bill has a number of interesting changes from the former draft, and the legislature is urgently trying to get it passed and finalized before the term ends for the summer, on 20th June.
On the emotive topic of the “integrity” fee matter, Pretlow has maintained the same 0.25% fee on all handled wagers for the sports leagues; which he refers to as a “royalty” fee rather than the integrity fee terminology used by the NBA and MLB in their adamant lobbying on this matter. And rather than being automatically entitled to the funds, his proposal is for the sports leagues to submit a claim by no later than 13 April each year for the previous year’s earnings. Former draft proposals had no such requirement, effectively making it a hand-out to the leagues. This certainly makes the leagues work a little harder for the money they pull in the betting sites in NY.
This bill further proposes the establishment of a state commission which will then be required to meet with the sports leagues making royalty claims within no less than 30 days of such an application, to discuss the measures being taken by the leagues themselves to protect the integrity of its sports events – be these policies, procedures or on-going programs, as might be the case. This bill proposal also includes the suggestion that an annual report be required, stipulating how these fees are used – and that these should be subject to auditing.
It is widely felt that these terms should be agreeable to the sports leagues; it may require a little more work on their part, but is certainly not a disincentive.
Another interesting and insightful requirement made by Pretlow’s proposed bill is that all governing sports bodies making an application for such fees need to have their headquarters on US soil, cancelling out the potential loss of funds to foreign business and sports entities.
Let’s see whether they make their mark in time to be second on the sports betting slate!