Prediction Markets Have Cuomo Leaving One Way or Another

Written by:
Jagajeet Chiba
Published on:

New York Governor Andrew Cuomo is on political life support and the betting prediction markets have him written off for dead.

PredictIt traders put the odds on the Democratic Governor staying in office through 2021 at just 28% as of Saturday morning.

BetOnline had opened odds of Cuomo leaving at +150.

Top Dems in the state - including Senate Majority Leader Chuck Schumer and Sen. Kirsten Gillibrand - called for Cuomo to step down late Friday after he said earlier in the day he would not.  By day's end the three-term governor had lost the support of almost the entire 29-member New York congressional delegation and a majority of Democrats in the state legislature.

The "Love Gov" is accused of acting inappropriately towards a half dozen women.  On Wednesday, a former aide to the Governor says he groped her in the governor’s residence.

The Times Union of Albany reported that the woman, who it did not name, was alone with Cuomo late last year when he closed the door, reached under her shirt and fondled her. The newspaper’s reporting is based on an unidentified source with direct knowledge of the woman’s accusation. The governor had summoned her to the Executive Mansion in Albany, saying he needed help with his cellphone, the newspaper reported.

Cuomo has denied most of the allegations. 

For the gambling community living in New York, this crisis threatens to get in the way of efforts to legalize sports betting. 

Cuomo had done an about face back in January after claiming that legalizing mobile wagering would go against the state's constitution.  Doing so is probably furthest from his mind at the moment and it is not immediately clear what stance any replacement might take on the matter should he step down. 

- Jagajeet Chiba, Gambling911.com

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