Legal Sports Report Podcast elaborated on the most important event of the week in the gambling industry in the United States: the passage of the law on the regulation of sports betting in the state of New York.
What's this?
Discussing the landmark agreement reached in New York, the podcast detailed the path to the introduction of the legislation, the specifics of the actual bills, and provided a breakdown of the numbers involved. Gambling developments in Illinois and Wyoming were also covered later in the episode.
Who is this?
Adam Candy , managing editor Catena Media
Dustin Hooker , head of content department PlayUSA
What do they say?
Regarding the legislation, Gouker commented: “It was very sketchy as to whether it would actually go into the budget. Some people called it a coin toss, some said it was definitely on, but it became clear earlier this week that there would be something in the New York state budget to do with online sports betting.
“Over the past 24 hours, we have really seen legislation come into effect to allow it to be included in New York's larger budget. Later in the life cycle, which is a couple of years, the state's fiscal year revenue will be $500 million."
He continued: "That was always more or less the plan Commo (New York Governor Andrew Cuomo). There is a small monopoly - basically a monopoly - that will be run by the state, requiring operators to share the revenue from 50% to 55%.
“We don’t know exactly who these operators will be, how they will get into the market and how it all works – it’s very confusing.”
Agreeing that the law's terminology was "confusing" to many, Candy asked Hooker what he thought of the specifics and what other people might have said.
Gocker subsequently confirmed that certain clauses in the legislation, in particular regarding the clause allowing the use of up to two platform providers, were interpreted by different authors and operators in different ways.
He commented: “I read this because you have two tech platforms, there are 'skins' that live on those tech platforms, and that's what it is.
“Some people understand that it basically means two licensees and they can sub-license it to other people. I don't think any of us know, and I'm not sure even the legislators or the people who wrote this law know, and it will probably be removed later, so we'll all know. ”
Why should I watch this?
To understand what is happening in New York as the state moves towards a regulated legal gambling market, including online verticals.
Where can I see more?
Source: Legal Sports Report YouTube channel.
The New York City post where sports betting began to emerge first appeared on GamblingTV.com.
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