Bet365 Pays $18,000 Monthly to New York Lobbying Firm
According to recent reports, the online sports betting provider Bet365 is using a lobbying firm based in New York City to advance the ongoing discussions about legalizing sports betting in the state of New York for its own benefit. Bet365 has yet to respond to inquiries from the press about this matter.
One of the world's largest gambling operators and the market leader in online sports betting, Bet365, is currently believed to be paying $18,000 per month to the company 'Cozen O'Connor Public Strategies' - specializing in lobbying - to influence the negotiations surrounding the potential legalization of sports betting in New York.
Cozen O'Connor Public Strategies is a subsidiary of the law firm Cozen O'Connor, which is headquartered in Washington, D.C. and has well-known offices across the entire east coast of the U.S. The company is based in New York City and Albany, where the discussions about sports betting legalization are being held.
It's unclear when exactly the deal between Bet365 and Cozen O'Connor was made, but the contract would extend until the end of the year "unless terminated earlier", as reported.
This was the first public indication of the British bookmaker's foreign efforts since the U.S. Supreme Court lifted the nationwide sports betting ban last May, according to a trade magazine called EGR. Bet365 has not yet responded to inquiries regarding this issue.
This situation sheds light on the fierce competition between European betting providers for the multi-billion dollar U.S. market.
What's happening in New York?
The ruling by the U.S. Supreme Court on sports betting legalization has given control over regulatory measures to the 50 U.S. states. This means that legislators and industry representatives in the state of New York, with a population of approximately 20 million, are working under tight deadlines for the adoption of a new legal basis.
A regulatory bill that would allow mobile sports betting, levy a 8.5% tax on sports betting revenue, and grant US professional sports leagues a 0.25% license fee on revenue has been presented to the New York House of Representatives. New York Governor Andrew Cuomo has put the legalization debate on hold for a thorough analysis, and has scheduled a session for June 20. There is optimism about the draft regulatory framework in New York, but Cuomo, a 60-year-old Democrat, is allegedly opposed to sector-wide legalization before the end of the session.
The media is putting pressure on the state government, suggesting that failing to act could significantly hinder the "action". Given that New York shares a border with New Jersey - which has played a key role in driving sports betting legalization through several constitutional lawsuits in recent years - there's an expectation for New York to be "ahead of the game".
A popular New York culture portal, NYupstate, accuses the government of inaction and unfair treatment of the gambling industry, which has recently convened at the legislature. Overall, the question remains:
"Given that the Supreme Court ruling enables states to operate sports betting and there's a state law, why hasn't it happened in New York yet?"
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Source: www.onlinecasinosdeutschland.com
