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Mychal Jeffrey Meyers's avatar

Online sports betting debuted in New York State last week. It seems like every

TV commercial in the area is for one of the four online sportsbooks currently

licensed to handle wagers in New York. Eventually, up to nine books will be

granted a license for the right to pay a usurious 51% tax on revenue (i.e., bettors’

losses) to the State, which is like a mafioso operation here. I would think that

eventually, several of the nine would say “No mas!” after looking at their net

profits following 51% taxation. My favorite moronic quote about it all: “This is

good news. It’s definitely good timing. We said we wanted mobile sports betting

to start before the Super Bowl. We’re ahead of schedule.” -- Assembly Gaming

and Wagering Committee Chairman Gary Pretlow (D-Mount Vernon).

Bobby Smith, Editor Sports Reporter

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Mychal Jeffrey Meyers's avatar

Really sad to see what has happened to GT. Shilling sportsbook promos for revenue while giving out picks is the ULTIMATE no-no for credibilty when you stand to profit from player losses. Then you dont even mention the crap 51% hold that New York state holds from betting revenue and how that affects lines, bonuses and marketing. A REALLY BAD DEAL for NY sports bettors but wonderful for marketers and profiteers. Despicable.

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