Earlier this month, Governor Cuomo and the New York legislature finalized a FY 2022 budget bill that includes provisions for legal mobile sports betting. The bill features a $25m license fee and a bidding process for potential licensees.
Cuomo has signed off on the bill, highlighting its potential to help the state recover from the financial losses caused by the Covid-19 pandemic. He emphasized the importance of supporting New Yorkers who have been instrumental in navigating the crisis and rebuilding a strong economy for all.
The budget bill outlines several measures, including the issuance of a request for proposals by the New York State Gaming Commission. This process will select at least two platform providers to operate sports betting, each offering at least four betting skins.
The request for proposals will open no later than 1 July this year, and winning bids will be selected within 150 days from this date. The bill also specifies that the Commission will develop a scoring system to evaluate the bids, with additional points awarded to operators that have a revenue-sharing agreement with a Native American tribe in New York.
For more details, read the full story on InnovateChange North America.
