In a recent statement, the Governor of New York, Andrew Cuomo, insinuated sports betting as an alternative to balance the economy’s downfall amid the ongoing Novel Coronavirus pandemic. He stated that authorizing sports betting can help the city to produce the necessary funds for its budget.
In a recent television program, The Governor was completely backing the sports wagering industry throughout the show. This hint that New York city citizens might expect to see some right decisions related to the online sports wagering industry in the upcoming budget.
In a statement, Cuomo was ultimately against online sports betting authorization as he thought it might require some severe constitutional changes. The retailer of casino betting is already trendy in the markets of New York City. However, introducing online sports betting will be something new for the betters in the city.
The Governor indicated two probabilities that either a budget will be passed shortly, or they might wait to see if they would receive help from the federal government in the upcoming spring season.
New York City is facing a significant downfall.
In October, Cuomo made a statement in which he said that the state is under a debt of over $50 billion. As stated in some analytics, there are even no chances to receive any help from the federal government. This directly indicates that Cuomo had no option other than taking help from the online sports betting industry.
Several lawmakers in the government were in favor of legalizing the New York online sports wagering. Still, the Governor always stood against it being the biggest obstacle in the betting industry’s path from entering the New York State. However, the ongoing pandemic had left no option to the Governor other than the betting industry to rescue the current shortage.
Few other officials made some statements indicating that they will not wait till the next budget, and we might get to see something at the beginning of the coming year. They said that as this year is almost at the end and not much can be done regarding the legalizations in a few days, they would love to see something before this year.
Sports betting as an alternative for generating revenue
The advantages of legalizing the sports industry known worldwide. There are many online wagering operators such as Sbobet88 Indonesia, which is operable across Asian countries. Several states across the USA are registering great numbers in the industry. New Jersey, the neighboring state, made over $50 million as revenue from the online betting industry last month. Also, reports claim that New York citizens cross the borders to reach New Jersey to bet there. These people help New Jersey by generating over $800 million in revenue every year.
The online sports betting industry can help the New York State overcome its ongoing crisis. With no possible options, the Governor is bound to permit online sports wagering in the state, and the citizens are very likely to get some good news very soon.