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SportsTranscript
00:00Finally, let's get to New York.
00:02Senator Joe Adabo is at it again.
00:04This time, it looks like he's got an issue with sweepstakes, which I know a lot of different
00:09states do.
00:10Adabo, Pat, in the column I read, Illegal Sports Report, simply put, seems to be saying
00:16we are not going to be able to regulate something that won't allow us to be regulated.
00:22The way I read it is that you got to pay us to be involved, but you can tell me what the
00:25real story is here.
00:26Yeah, I mean, that's kind of a good argument he kind of sort of made.
00:31In two Legal Sports Report earlier this year, he also said, you know what?
00:35This is an unregulated form of gambling in the way I look at it.
00:39If we're going to have gambling, it needs to be regulated and it needs so it's safe
00:43for the consumers.
00:44And that's his major stance.
00:47And you're seeing, and it did pass his Senate committee last week.
00:52So we'll see that continue to move forward.
00:54We're seeing more and more states at least take up prohibition bills on these sweepstakes
00:59operators.
01:00I think we're up to eight.
01:01A source has told me that there's probably at least two more coming.
01:05And you're seeing it in some states at least pass.
01:08I mean, there was a sweepstakes bill in Maryland that passed the Senate 47 to 0.
01:12There's a hearing on that bill in the House today.
01:15So, you know, the legislators seemingly think that this is an issue at some level of, you
01:22know, there is gambling components to it and they want it to either be regulated or
01:27they want to prohibit it and just like online casino or the like.
01:32So it's a very interesting situation that is now getting lots of attention from legislators
01:37and then also regulators.
01:39Regulators are now starting to send season assist letters to these operators in the same
01:43way they are with the offshore sports books and online casinos.
01:47So, you know, will it pass any of these legislators fully in New York specifically as it passed
01:55that Senate committee?
01:56We'll see.
01:57But yeah, it's definitely gaining more and more attention.
01:59I think the New York Times, not I think, I know I was just reading it, the New York Times
02:03put out a pretty big explainer about the sweepstake industry and what's happening.
02:07So yeah, it's getting national attention as well.
02:10So yeah, it's going to be fun to watch, that's for sure.