NY Committees Hold Joint Hearing on Mobile Sports Betting
February 2, 2023
On January 31, the New York Senate Racing, Gaming, and Wagering Committee and the Assembly Racing and Wagering Committee conducted a joint subject matter hearing on mobile sports betting. The hearing can be viewed here.
Operators testified on the need to lower the state’s 51% tax rate. On January 17, Sen. Joseph Addabbo filed S.1962 that would tie a reduction in the tax rate to an increase in the number of operators. Under the legislation, the tax rate would be lowered to 50% if there are 10-12 operators, 35% if there are 13-14 operators and 25% if there are 15+ operators. More background information on the hearing and S.1962 can be accessed here and here.