Sports Betting Beat: Horse Racing Won't Be Allowed on NY Sports Wagering Sites

Advance deposit horse racing websites like NYRBets are legal in New York State, but horse betting will not be permitted on mobile sports betting sites, an emerging industry coming soon to the Empire State following passage of legislation signed into law by Governor Andrew Cuomo.

For websites like NYRBets, this is more than just a question of schematics.  Mobile sports betting is expected to attract a signifcant number of customers, most of whom would not normally find a "horse betting only" app appealing. Having a racebook tied in with the sports gambling app would attract those looking to place bets on high profile races such as the Kentucky Derby and Breeders Cup.

The New York Racing Association still believes there will be opportunities to change the language in the current law.

The new law also requires that only fixed-odds wagering will be available to bettors with other forms, like pari-mutuel and exchange bets, prohibited on the sports betting platforms.  NYRA Bets, TwinSpires, TVG, and XpressBet that currently offer this type of wagering would not be impacted on their "horse betting only" apps.

The horse racing industry would prefer a one-app system for all kinds of wagers, including horse racing as opposed to multiple apps offering different types of gambling.

Nevada Sports Betting Takes US Market To $50 Billion In Bets - Nevada sportsbooks took in $641 million in bets last month.  That's the third most ever with revenue of $39.3 million, and a 6.1% hold.  Much of this was a result of March Madness.

Nevada Gaming Control Board senior research analyst Michael Lawton told Legal Sports Report the NCAA Tournament typically accounts for 70% of all basketball bets in March.

- Gilbert Horowitz, Gambling911.com