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NEW YORK (77WABC) – With New Jersey turning into an online sports capitol of the country, it appears New York Governor Andrew Cuomo is finally embracing online sports betting in the Big Apple.

The details are not yet clear, but Cuomo acknowledged he would finally address the fact that New York has not embraced online sports betting.  On Wednesday morning, Cuomo’s office published a statement in the New York Daily News.

“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 tax revenue here at home, which will only strengthen our ability to rebuild from the COVID-19 crisis,” Cuomo said.

New York State Senator Joe Addabbo has been imploring Cuomo’s aids to take up sports betting handle, as New Jersey is set to break the all-time yearly record when final numbers are reported next week. The previous record of $5.3 billion was set by Nevada in 2019.

In February 2020, FanDuel and DraftKings, who were lobbying the state to allow online betting, proposed scenarios of taxation that some experts say could generate more than $200 million for New York.

According to Addabbo there are no constitutional issues with mobile sports betting in New York, so there would not be a big overhaul to any bills needed.  This would be solved by putting servers for mobile betting at the retail locations that already are approved mobile betting operators.

“Those are some of the details that I hope to work with the Governor’s office in the coming days. I’m hopeful his administration is just as enthusiastic and energetic about implementing mobile sports betting in our state as I am,” Addabbo said.

New York’s initial 2020 budget, which did not include any new sources of revenue such as online sports betting, has to account for a $7 billion budget deficit.  Due to the pandemic, the budget shortfall rose to more than $17 billion and Cuomo said it was closer $50 billion when considering deficits for others, such as local municipalities, including the MTA.

Right now there’s no firm timeline for online betting to launch, but Cuomo said he will address it next week.

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