Bill Would Allow Fixed-Odds Horse Wagering, New York Stadium Betting Lounges

New York State Sen. Joe Addabbo has sponsored a new bill to expand online sports betting in NY.

The bill, if passed, would allow for fixed-odds NY horse racing to be included on the apps.

In addition, betting kiosks would be allowed at arenas, stadiums, racetracks, OTBs and VLTs.

“We haven’t even taken our first mobile bet, but I’m already thinking about how to improve it,” Addabbo told playin-ny. “And this harkens back to the legislation that was passed both in the assembly and the senate in our previous incarnation of mobile sports betting. Now, we’re incorporating some of that language into this bill so a New Yorker no longer has to have a fragmented (horse betting) app or one app for sports and another app for racing.

“So it’s providing a better product for a New Yorker while increasing revenue, educational funds, jobs, addiction money and everything else.”

The New York legislature adopts its annual budget between January and April.

Addabbo puts words into action with new NY betting bill

Addabbo has made no secret of his desire to get all this accomplished.

“That’s the next step for me,” Addabbo told playin-ny previously. “I have to have someone have the ability to bet the Mets, Jets, Yankees, Rangers, Islanders, whatever they want, and then the fifth race at Saratoga.

“Our initial vision that (former) Gov. Cuomo didn’t quite care for was rolling out, over two or three years, racetracks, OTBs, stadiums, arenas and kiosks. I still want to do that. And hopefully, I can get to work with Gov. Hochul and see that we can expand mobile sports betting to what it really should be in our state.”

NY betting apps would provide another lifeline for horse racing

New York has a deep horse racing history. But the question has always been long-term viability of the sport, which needs to attract a younger audience. The key tracks in the Empire State include Belmont Park, Saratoga, Yonkers and Aqueduct. Currently, customers can participate in NY horse betting online via apps such as NYRA Bets, Twinspires and TVG. They can also bet at the physical tracks.

“Allowing horse racing content and wagering to coexist within the mobile sports betting marketplace would grow the sport in New York, deepen the industry’s economic impact and attract new fans,” NYRA spokesman Patrick McKenna told playin-ny. “It would expand consumer choice by placing premium horse racing content on the same mobile shelf as other professional sports, which would generate $1 billion or more in additional gaming revenue for New York State.

“Senator Addabbo recognizes the importance of horse racing as an economic engine for the state responsible for 19,000 jobs and more than $3 billion in annual economic impact. The legislation he has introduced presents an enormous opportunity for horse racing to share in the benefits of mobile sports betting. It would be a big win for New York and for the future of horse racing.”

NY sports betting lounges to come for pro teams

The NY online sports betting industry is expected to be fully up and running in early 2024. This bill, if passed, would pave the way for New York’s professional teams to open their own sports betting lounges.

New Yorkers could then have the opportunity to wager at:

• Barclays Center
• Citi Field sportsbook
• Highmark Stadium
• KeyBank Center
• Madison Square Garden sportsbook
• UBS Arena
• Yankee Stadium sportsbook

Recently, the Knicks partnered with BetMGM and Caesars. The Nets supported a bid by Fanatics, which did not receive a license. But the team also has an existing partnership with FanDuel, which could logically continue if not expand in nature. Brooklyn could also look to have multiple sports betting partners.

The Yankees, Bills and Sabres all supported the Super Bid by FanDuel, BetMGM, DraftKings and Bally’s, so it stands to reason those teams will form partnerships with one or more of those providers.

The Islanders told playin-ny in September they planned to have one or two partners at the most. The team has an existing partnership with Betway, though the provider doesn’t have a license in New York. It’s unclear how the Mets will proceed, but owner Steve Cohen certainly sees the value in gambling. Cohen has already engaged in preliminary talks with Las Vegas Sands about putting a casino near his team’s stadium in Queens.

The Giants (DraftKings) and Jets (WynnBet, Fubo, BetMGM) — based in East Rutherford, New Jersey — will also be interesting to watch.