ALBANY – New Yorkers will be able💜 to bet on fantasy sports teams if Gov. Cuomo 💝signs a bill passed by the legislature early Saturday morning.
The Senate cleared the way for Cuomo’s approval♌ around 2:15 a.mꦓ. by voting in favor of the bill, which cleared the Assembly Friday.
“We’re authorizing these sports,💙” said Sen. John Bonacic, the Ulster County Republican who sponsored the legislation. “We’re going to regulate it. We’re going 🧔to monitor it. We’re going to tax it and we’re going to put consumer protections in place.”
The s🀅tate will tax the contests, charging companies tha♌t run them 15.5% of their gross revenue.
The approval is a turnaround from earlier this year when Attorney General Eric Schneiderman faced off with sites like FanDuel and Draft Kings in court. The laꦗwsuits between the state and the sports betting companies were suꦆspended pending a decision by state lawmakers.
If Cuomo sign𒀰𓆏s the bill into law, the contests will become legal immediately.