Morinello Advises Caution In Implementing Sports Betting In New York
ďThis year, Iíve been encouraged by the Supreme Courtís decision to allow states to decide whether they will allow sports betting, but I believe itís a decision that shouldnít come without an extensive analysis. This opportunity could potentially bring a multi-million dollar industry to our state, but I would advise caution before hastily implementing any gaming without fully vetting its merits. We need to make sure the benefits are fully realized and used to rid the state of debt, rather than simply providing the state more money to be wasted.
ďI support legal sports betting, but we need to ensure this is done properly and that New York State doesnít take advantage of those who fall prey to the lure of unfettered sports betting. Traditionally, sports betters who donít have successful Sundays during football season tend to increase their bets later in the week to earn their money back, only leading to more losses. Too often, Iíve seen people bet more than they should, devastating their financial future.
ďRegardless of the stateís decision on sports betting, I urge total transparency by all involved. State taxpayers deserve to know if and when there will be sports betting, and who will receive the additional funding and where it will be spent. With complete transparency and a thorough process to identify the pros and cons of sports betting in our state, Iím confident we will come to a decision thatís best for all New Yorkers.Ē