NY Sports Betting Bill: What This Means for Big Apple Bettors

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New York has joined New Jersey in their pursuit of legal sports betting.

State Senator John Bonacic introduced Senate Bill S7900 yesterday, which proposes an amendment to the existing carveout for racebook wagering and allows for legal sports betting at NY casinos and racetracks.

However, the bill is contingent on federal law being overturned. The US Supreme Court is currently mulling over a decision on whether or not to overturn the Professional and Amateur Sports Protection Act of 1992 ("PASPA"), which limits sports betting nationwide to Nevada, Delaware, Oregon, and Montana. Nevada is the only state to offer unrestricted sports wagering, whereas the other states have some form of limited parlay card style betting.

The proposal includes a tax rate of 10.5% on gross gaming revenue. The bill can be read in full here.

SBR Forum posters were quick to share their opinion on the news. SBR Forum's TheMoneyShot had the following to say: "It will get passed. I don't know when... but Sports Wagering will be legal one day. First state... probably within 2-3 years. Maybe sooner. Won't be long."

Join the SBR Forum discussion on NY Sports Betting.

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