In our spooky edition of the show, we follow up on the scary New York mobile sports betting news, as they have doubled down on their ridiculous tax rate! It’s a move that some fear could set the industry up for failure before they even launch. We also talk about the record breaking sports betting revenue from the state of New Jersey, and how Pennsylvania is close behind with monstrous sports betting revenue of their own!   Hello my friends, and welcome to this Halloween edition of This Week in Gambling, where we have scary New York mobile sports betting…

If you thought that the proposed 50% tax rate for New York mobile sports betting was too high, then brace yourselves. The State Gaming Commission has just confirmed that the new and improved tax rate will be no less than 64%… the highest in the nation. The operators who applied for licenses to provide mobile sports bets in the state have been informed of this change, and the Commission has given them until this coming Monday, October 25th, to amend their bid proposals if they did not include a tax rate of at least 64%. Well, that’s pretty nice of…

Ah, how fondly we remember when New York mobile sports betting was passed way back in April. And then, the delays started to mount. Now, as we near the end of the year, the application process drags on. One has to wonder if the delay could have anything to do with the monstrous 50% tax rate the state plans to implement. However, the State Gaming Commission maintains that they will narrow the list of applicants to a few finalists before mid-December… so that can’t be it. Still, the Commission did publish their “request for applications” for mobile wagering providers back…

Smartphones have changed the lives of many people on the planet. And no doubt, mobile gambling has been a boon for the gaming industry. But where will this lead us ten or even twenty years in the future? Right now about 35% of the global population has a cell phone, and that number is expected to grow at a rate of over 11% in the next seven years. Not all of those people will be interested in gambling, but there will still be many new and emerging markets of players. Those that do chose do take advantage of mobile gambling…

With New York mobile betting closing in, the state has unveiled the names of the companies bidding for the sports betting licenses. Fanduel and Bet365 top the list, followed by other familiar names like Fox Bet, TheScore, and Kambi. FanDuel submitted their bid with plans to offer products from BallyBet, BetMGM and even rival DraftKings. Bet365’s bids included only their own products. The big submitted by TheScore also included exclusively their own offerings. Kambi submitted two applications, the first of which has a partnership with Fanatics Sportsbook and Penn National. Their second application offers partnerships with Caesars, Resorts World, WynnBet…

If you are an operator wanting to offer New York mobile sports bets, get ready to pay a heavy price. After years of trying to pass legislation to allow the activity, the state of New York seems pretty proud of themselves. The cost for the privileged of serving players in the Empire State? How about $25 million up front for the license, and 50% (or more) in taxes on your gross revenue! Additionally, the state would prefer to deal with operators who already have a revenue sharing agreement with a Tribal Gaming interest within the state, and that’s sure to…