New York state Senator Joe Addabbo has introduced a bill, S8439, which would reallocate 1 percent of the state’s sports betting tax revenue for problem gambling services. It might not sound like much, but it should beat the current contribution of $6 million a year.
“Let’s make sure as online sports betting handle and revenue grows, so do the services,” Addabbo told Legal Sports Report.
During the 2022-23 fiscal year, sports betting taxes exceeded $744 million. At 1 percent, the total for the year would have been $7.44 million, higher than the $6 million in current contributions. Additional tax money could go toward a 24/7 service or a peer-to-peer service.
Michelle Hadden, assistant executive director with the New York Council on Problem Gambling (NYCPG), previously indicated the current funding mechanism was insufficient. She applauded Abbaddo’s proposed legislation.
“We appreciate the senator’s support and recognition that additional resources are needed to address the harms caused by gambling. We hear stories every day from individuals and families who are struggling to cope with the consequences of a gambling problem,” Hadden told LSR.
“Additional resources means we can bring more awareness to the issue, work to prevent problems and improve access to care. From NYCPG’s perspective, this is a positive step forward.”
Addabbo expects to fast-track the legislation. “It’s imminent because I want it to be part of the budget process,” he said.
