April 7th, 2021 Weekly Report
Now, we have fully leaped into spring, so it’s a great time to see what’s going on in legal sports betting. New York sports betting has been losing its initial traction lately, so we will get a status update for sports betting in the Empire state. Plus, Wyoming sports betting set itself out as a leader of the pack unexpectedly. Keep reading to learn where the status of legal sports betting stands in your favorite state!
If you want to find our more on some major topics not covered in this article you can check out the rest of VegasInsider with our exclusive bet365 bonus code, BetMGM bonus code or PointsBet promo code for example!
New York Sports Betting Details Create Confusion
Now that we are getting more information about NY sports betting, many people are still very confused as to how it will look! New York Governor Andrew Cuomo has a very unpopular model that seems to have advanced forward. Governor Cuomo’s model means that sports betting operators will need to bid for their chance to offer NY mobile sports betting.
However, this could mean that through the RFP, only one, maybe two, operators may be chosen for sports betting in the state. The details are still murky, but it does appear that there will be four or more skins available. If the operators are hoping to win their respective bids, they will need to be comfortable having to share at least 50% of the profits.
The servers will be hosted by New York state’s commercial casinos. Assemblyman Gary Pretlow indicated that he believes all four commercial casinos in the state will want to be involved. However, it is unclear how profits will work for the casinos in the embattled Governor’s model.
In New York Governor Andrew Cuomo’s model, it would be up to the New York State Gaming Commission to request proposals in order to select one or more providers for New York mobile sports betting. However, any chosen platform is required to have an existing partnership with at least one licensed commercial casino. The New York State Gaming Commission will additionally be requiring any entity that operates mobile betting apps to include preventions against addiction and other abuses.
So, that means that there are only four to six sports betting operators that would be eligible right now. These are:
Also, companies Penn National and PointsBet may also find themselves included in the list as well. Both companies have second-skin agreements with Rivers and Tioga Downs respectively. But, the confusing language in the proposed model by the governor does not make it clear if second-skin agreements would be acceptable.
However, because of the confusing nature of the language in the model there is also another interpretation available. It could be interpreted that any sports betting operator could bid for a license so long as they are able to reach an agreement with at least one of the casinos to host their sports betting servers.
The Oneida Native Americans are also potentially not pleased with how the negotiations for New York sports betting have gone. There is a worry that the new model may void an agreement from 2013 that the Oneida had made. The Oneida have indicated that they are happier with what the New York state Senate and the Assembly want for New York sports betting.
Louisiana Sports Betting Takes a Step Forward
It looks like we may see Louisiana sports betting sooner than many had thought it could happen! At this moment, legislators in the state have started to craft the foundation for what sports betting could look like in the state. As of this writing there are already seven Louisiana sports betting bills that have been prefiled in the Louisiana state Senate as well as the House.
Two of the proposed bills, SB 202 and SB 195, would outline proposed regulations for legal betting. These proposed bills will begin the session in the Senate Judiciary B Committee. Both SB 195 as well as SB 202 would limit this betting to the fifty five parishes that voted to approve Louisiana sports betting back in November 2020 at the ballot box.
SB 202 is sponsored by a trio of bipartisan state Senators in Louisiana. In the bill, the Louisiana Lottery would receive a license for online betting at wagering machines. However, the bill caps the licenses at twenty. These licenses would most likely go to:
The additional licenses would be made available to:
If the received applications wind up exceeding the amount of licenses that are available, a concealed bidding process will be held. Those who have the licenses can decide to operate legal betting in the state on their own or to contract that responsibility out. Plus, those who receive the licenses can choose to partner with up to two skins.
There is some atypical language that has been included, especially a provision that would make at least 10% of all bets be required to be held by an operator at a bank that is Louisiana-chartered. Retail sportsbooks will end up with an important role in the process. Prior to allowing for Louisiana online betting, according to the bill, in-person registration will be required.
Wagering mechanisms would be held by retail establishments that have “Class A” permits. That means that the following businesses would be eligible:
SB 195, which has the support of state Senator Cameron Henry, would limit the betting licenses to twenty, not counting the one for the Louisiana State Lottery. Businesses that would be allowed to apply for licenses would be:
Other types of businesses would be able to enact other ways to participate in Louisiana sports betting.
Riverboat casinos, racinos, and other legal betting operators in Louisiana are:
Wyoming Sports Betting Surprises Many This Spring
Many did not see the recent legalization of Wyoming sports betting as an inevitability this year! But, a few days ago, Wyoming Governor Mark Gordon signed HB 133 into law. Back in 2020, a similar proposed sports betting bill failed to make its way through the state House.
Now, this means that Wyoming sports betting could be up and running in the state by September 1st, 2021. Even just a month ago, it looked unlikely that the Wyoming sports betting legislation would pass. Back then, the state House had voted against moving HB 133 forward. However, a day later, the state House decided to reconsider the bill and passed it in a vote of 32-4. The Senate then voted to also pass the bill 24-5.
So, it would appear that New York sports betting is forthcoming, but not in the way many had hoped. However, Louisiana sports betting could be coming quicker than we thought. And, Wyoming sports betting is also the surprise of the season, being signed into law days ago. Which means, the sports betting market in your state could change just as easily if you do not have legal sports betting yet. Keep checking back each week for the latest legal sports betting news!
Written by Allie Nelson, our US Sports Betting Industry Expert. You can learn more about our author's expertise.