ALBANY (WBNG) — Governor Andrew Cuomo announced Wednesday that he is pushing a bill to authorize online sports betting in New York.
Right now, New Yorkers can only place wagers on sports at specific locations.
Online sports betting is legal in Pennsylvania, New Jersey and 12 other states.
Cuomo says the state can recover some of the money lost from the pandemic through tax revenue from sports betting. According to a study the governor cites, 20% of all gambling revenue in New Jersey comes from New Yorkers. Cuomo says this results in millions of dollars in lost tax revenue that could come into the state of New York.
In a statement from Cuomo’s office, he says “New York has the potential to be the largest sports wagering market in the United States, and by legalizing online sports betting we aim to keep millions of dollars in revenue here at home, which will only strengthen our ability to rebuild from the COVID-19 crisis.”