ALBANY — Gov. Andrew Cuomo is backing the legalization of mobile sports betting in New York in a push to close the state’s $15 billion budget gap looming in this year’s state budget — marking an about-face for the Democratic governor who previously opposed the measure.
“We want to do sports betting the way the state runs the lottery where the state gets the revenues,” the third term Democrat told reporters during a virtual press conference from Albany Wednesday.
“Many states have done sports betting, but they basically allow casinos to run their own gambling operations. That makes a lot of money for casinos, but it makes minimal money for the state and I’m not here to give the casinos a lot of money.”
“I’m here to raise funds for the state, so we have a different model for the state,” he added.
Presently, the state faces a revenue shortfall upwards of $63 billion over the next four years