New York state senator introduces fixed-odds betting bill for mobile

A New York state senator has introduced a bill that would allow fixed-odds bets on horse races to be offered by licensed mobile sports-betting operators.

Sen. Joseph Addabbo, the chairman of the New York Senate Committee on Racing, Gaming, and Wagering, introduced the bill on Monday, sending it the Senate Committee on Rules. The legislature is not scheduled to re-convene until January.

The bill would allow fixed-odds bets on horse races provided that the mobile sports-betting operator obtained permission from a pari-mutuel wagering franchise “that has the authority to provide the content of the horse racing event.”

The New York Racing Association, which operates Aqueduct, Belmont Park, and Saratoga Race Course under a franchise with the state, said in a statement that it supports the legislation.

“The legislation [Sen. Addabbo] has introduced presents an enormous opportunity for horse racing to share in the benefits of mobile sports betting,” said Patrick McKenna, a spokesman for NYRA. “It would be a big win for New York and for the future of horse racing.”

Mobile sports betting is expected to begin early next year in New York. Under rules approved by the New York Gaming Commission, horse racing account-wagering platforms will be able to use “shared wallets” with mobile sports betting operators to allow a customer to use the same bankroll to place sports bets and pari-mutuel racing bets.