“Shared Wallet” Betting Legislation Introduced in New York


Legislation has been introduced in New York State to allow new mobile sports betting licensees to enter into agreements with state racetracks to allow sports bettors to bet directly on pure horse races. blood.

The legislation of Sen. Joseph Addabbo, a Democrat from Queens who chairs the Senate Committee on Racing, Gambling and Betting, would give punters a more “transparent” way to bet on thoroughbred races, he said in an interview.

The state’s new mobile sports betting program, which could be rolled out by the Super Bowl in February, does not allow direct betting on horse races. The state does, however, allow a “shared wallet” system in which bettors can dip into the money they have on deposit with one of the mobile sports betting operators to bet on horse races through the NYRA program. Bets.

The new legislation would add horse racing to other forms of professional and college sports competitions that mobile sports bettors in New York City could directly bet on. However, the new sports betting program only allows them to take fixed odds bets, not bets based on a pari-mutuel system.

The Addabbo Bill would also allow mobile sports betting operators to enter into deals with “affiliates” – defined as off-track betting houses, sports stadiums and arenas, other racetracks and the Aqueduct Video Lottery Terminal casino. – to locate self-service mobile sports. Betting kiosks to place bets on the various pro and amateur contests. Sports betting operators would own the kiosks.

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All deals would have to be approved by the New York State Gaming Commission, and mobile sports operators could not offer direct betting on horse racing without New York Racing Association deals and Finger lakes.

Addabbo said the legislation mirrors the original plans he proposed several years ago before a final version was approved this spring as part of the 2021 state budget. The Gambling Commission recently selected the operators for the new program.

“We are looking to maximize our potential,” Addabbo said of the reason for his new bill. He said that “there should be a marriage between the horse racing industry … and mobile sports betting” as a way to encourage today’s mobile sports bettors. – who cross the state border to bet or gamble illegally through bookmakers or offshore accounts – to try New York’s next mobile program.

Addabbo said the current bill is limited to betting on thoroughbred horse racing, but will consider an extension of betting on harness racing on the road. He said he discussed the bill with MP Gary Pretlow, a Democrat from Westchester County and his committee counterpart in the Assembly; Addabbo said Pretlow told him last Friday – the day the Senate bill was introduced – that he was considering the idea.

The bill would allow direct betting on races at NYRA-operated tracks and at Finger Lakes Racetrack.

NYRA hailed the “shared wallet” concept for the new mobile sports betting program, but said the new Addabbo legislation will provide more options for punters who might want to make fixed odds bets on horse races.

“Allowing horse racing and betting content to coexist in the mobile sports betting market would grow the sport in New York, deepen the economic impact of the industry and attract new fans. This would expand consumer choice by placing quality horse racing content on the same mobile shelf. than other professional sports, which would generate $ 1 billion or more in additional gaming revenue for New York State, ” NYRA spokesman Patrick McKenna said.

McKenna said the Addabbo bill “presents a huge opportunity for horse racing to share the benefits of mobile sports betting.”

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