7 Best Sports Betting Stocks to Wager On Sports betting stocks are taking off, and expect the industry to keep expanding at a rapid rate. These are seven gambling names you need to know. Sports wagering is now legal online in 14 states, including the bordering states of New Jersey and Pennsylvania, while it is only legal in New York at the four Upstate commercial gaming facilities and Native American gaming facilities. New York online sports betting and mobile betting. As indicated, New York only authorizes retail sports betting at its commercial and tribal casinos. Obviously some lawmakers are looking to green-light regulated online wagering, which would help the state truly realize its billion-dollar revenue potential.
Feb 03, 2021 Sports betting was legalized in New Hampshire on July 12, 2019, when Gov. Chris Sununu (R) signed HB 480 into law. However, one of the first things that bettors need to know is that there are currently no physical locations for legal New Hampshire sports betting.
Last week, Governor Andrew Cuomo abruptly reversed his stance on mobile sports betting, then quickly pivoted to support a lottery-run state sportsbook. On the heels of these two huge announcements, New York State Senator Joseph Addabbo and Assemblyman Gary Pretlow filed their mobile sports betting bill to the state senate and assembly.
The bill, s1183 (a1257 in the assembly) eschews Cuomo's desired lottery model, instead favoring a casino-run sportsbook landscape in New York.
NY Mobile Sports Betting Bill Details
Addabbo is no stranger to sports betting legislation. The State Senator has introduced similar bills in 2019 and 2020, but both efforts stalled and never saw the light of day. But after Cuomo's change of heart, Addabbo and Pretlow's bill aims to bring revenue to the Empire State economy.
S1183 and a1257 propose a $12 million fee for mobile and online sportsbooks in New York with a 12% tax on gaming revenue. The 12% rate is a notch up compared to the state's 8.5% tax rate on in-person sports betting. Additionally, the bill sets forth a requirement that sportsbooks use official league data to provide live bets. That's attached to a 0.2% royalty fee.
Currently, both bills are in committee. S1183 is with the Senate Racing, Gaming, And Wagering Committee. A1257 sits with the Assembly Racing and Wagering Committee.
Will It Pass?
As of now, it's really too hard to tell whether Addabbo and Pretlow's bill will bring mobile sports betting to New York. In our recent interview with Senator Addabbo, he cited myriad reasons for New York to allow mobile sports betting using the casino model. Namely, he believes it will bring much-needed budget relief to the state.
If Governor Cuomo has his way, though, the Empire State will offer a single license paired with a New York Lottery partnership, effectively bringing a sports betting monopoly to the state.
There's no way to tell which route the state will take. Instead, expect an intriguing year for New York as legislators and the Governor duke it out over the state's path to online sports betting.
Online casino is back on the agenda in Connecticut, alongside sports betting, in new legislation recently filed.
It's the latest — and perhaps best — opportunity to expand online gambling in Connecticut. But the idea has been around for almost a decade without coming to fruition. Will 2021 be different?
Currently, both bills are in committee. S1183 is with the Senate Racing, Gaming, And Wagering Committee. A1257 sits with the Assembly Racing and Wagering Committee.
Will It Pass?
As of now, it's really too hard to tell whether Addabbo and Pretlow's bill will bring mobile sports betting to New York. In our recent interview with Senator Addabbo, he cited myriad reasons for New York to allow mobile sports betting using the casino model. Namely, he believes it will bring much-needed budget relief to the state.
If Governor Cuomo has his way, though, the Empire State will offer a single license paired with a New York Lottery partnership, effectively bringing a sports betting monopoly to the state.
There's no way to tell which route the state will take. Instead, expect an intriguing year for New York as legislators and the Governor duke it out over the state's path to online sports betting.
Online casino is back on the agenda in Connecticut, alongside sports betting, in new legislation recently filed.
It's the latest — and perhaps best — opportunity to expand online gambling in Connecticut. But the idea has been around for almost a decade without coming to fruition. Will 2021 be different?
Sports Betting Newsletter
Inside the Connecticut online gambling bill
SB 146 is short on details — it's just over a page — but it does seek to legalize all sorts of gambling online. Here are the basics:
Online Sports Betting New Jersey
- The state's two tribes, the Mohegan and Mashantucket Pequot, would be authorized to conduct online sports betting and online casino, if and when the tribes and the state come to a new or amended agreement.
- The Connecticut Lottery would be to sell draw tickets online, as well as conduct keno online.
The key part of this appears to be the tribes signing on to the effort, along with the legislature and governor. That would seemingly presage a law coming to fruition.
Gov. Ned Lamont and lawmakers have been optimistic on sports betting being legalized in recent months.
Who opposes online gambling in CT?
One potential opponent is Sportech, which runs Connecticut's off-track betting facilities. It wants to be a part of the sports betting scene in the state, but this plan could shut it out if all rights are given to the tribes.
Sports Betting New Jersey
MGM Resorts, which had long sought a casino in the state, appears to be pulling back and might no longer offer a stumbling block for a deal being done.
What's next for Connecticut online casino and sports betting?
The Connecticut online casino and sports betting bill needs to move through the legislative process. The session has begun and is scheduled to wrap up in June.
In the coming months, we'll find out if all this optimism turns to legislative action or if something gums up the works for online gambling in the state.
If things go smoothly, you may be gambling online in Connecticut by 2022.
