New York Senator Wants to Add Fixed-Odds Horse Racing to State’s New Mobile Betting Market

  • The bill will allow licensed mobile sportsbooks to offer fixed-odds betting on horse races
  • Addabbo has filed the legislation ahead of a New York legislative session in January
  • It would allow sportsbooks to strike partnerships to bring betting kiosks to racing venues
  • The NYRA said SB S7536 “would be a big win for New York and for the future of horse racing”
Saratoga Race Course in NY
A senator has filed a bill in New York seeking to allow licensed mobile sportsbooks to offer fixed-odds bets on horse races in the state. [Image: Shutterstock.com]

Senator files SB S7536

New York State Senator Joseph P. Addabbo Jr. has filed Senate Bill S7536, which would allow licensed mobile sports wagering operators to offer fixed-odds bets on horse races.

billions of dollars of tax revenue for New York

Addabbo — who is also chair of the NY Senate Committee on Racing, Gaming, and Wagering — introduced the bill on November 19. The legislation asserts that the changes could result in billions of dollars of tax revenue for New York.

Official legal analyst for CBS Sports Radio and Fox Sports Radio, Amy Dash, took to Twitter to share news of the proposal, which also paves the way for betting kiosks in New York sports stadiums:

Addabbo has lined up the bill at the starting gate ahead of the state’s upcoming legislative session in January, which dovetails with the expected launch of online betting in New York in early 2022. The legislator noted the bill will be an action point high on his agenda for the next state budget.

Better product for NY bettors

Speaking with Elite Sport NY, Addabbo described horse racing mobile wagering as a “very high priority.” He added: “If someone on one of our apps can bet on the Nets, Knicks, Rangers, whatever team they want, and also horse racing at Saratoga, it will give the New York consumer a better product.”

The New York Racing Association’s (NYRA) senior director of communications, Patrick McKenna, concurred with Addabbo that the new bill could generate big money for the state. Via Twitter, McKenna said online horse race betting would “deepen the industry’s economic impact and attract new fans:”

The new bill would permit the nine qualified sports betting operators in New York to take fixed odds horse racing bets on their mobile apps and to partner with horse racing content providers.

Earlier this month, the New York State Gaming Commission (NYGC) awarded ten-year online sports betting licenses to nine operators. The winning bidders made up two consortiums, one headed by gaming supplier Kambi. In a recent exclusive interview with VegasSlotsOnline News, Kambi exec Sarah Robertson said the market had the potential to become “huge.”

What’s more, the bill seeks to allow qualified sportsbooks to partner with “select affiliates,” referring to off-track betting firms, professional sports stadiums, franchised corporations, or licensed race tracks. They could then offer self-service betting kiosks at their venues.

Fixed-odds betting

If approved, SB S7536 will allow mobile sportsbooks to offer fixed-odds wagers on horse races once they receive permission from pari-mutuel betting franchises that have “the authority to provide the content of the horse racing event.”

The NYRA, which operates Aqueduct, Belmont Park, and Saratoga Race Course, backs the legislation. McKenna said the bill represents an “enormous opportunity for horse racing to share in the benefits of mobile sports betting.”