Sports bettors in New York have recently seen their betting options increase, with 4 of the state’s nine online operators being allowed to take mobile sports bets from January 8th. The law became active at 9 am Eastern Time that day and promises to further help build the New York online betting landscape. The four operators in question are Caesar’s Sportsbook, DraftKings, FanDuel, and Rush Street Interactive.
The four operators were not simply permitted to begin offering mobile bets. They all needed to meet strict guidelines laid out by the New York Gaming Commission. The commission has deemed that all four operators have met the requirements and are operating to a good standard.
The other 5 operators in the state - PointsBet, Resorts World, BetMGM, Bally’s Corporation, and Wynn Bet, are all continuing to work towards meeting the requirements. The NYGC has confirmed that licenses will be handed out gradually once the requirements have been met.
The commission did not release the criteria that operators had to meet to obtain the license. One thing the four companies have in common is that they all have retail sports betting agreements with land-based casinos in the state. Caesars works with three different casinos - Point Place, Turning Stone Resort, and Yellow Brick Road; DraftKings works with Del Lago Resort, FanDuel works with Tioga Downs and Rush Street works with its own Rivers Casino.
Joseph P. Addabbo Jr, New York’s senator, has been pushing for the introduction of legal mobile betting in the state for some time. They were very happy with the announcement and hailed the news as a great success.
They described it as great news for the State. Adding that the revenue will help to fund education, addiction programs, and help to create new jobs in the state. They then praised the efficiency of the commission, adding that they hope the other five operators can meet the requirements soon. They also pointed out that the launch comes just in time for the NFL playoffs, which should provide a significant boost for all of the operators.
The Chief Executive of Kambi, the supplier who led the bid for several of the sportsbooks, said that they were excited to launch in New York State. They said that being selected to operate online by the state shows how great its products are.
New York is one of the biggest and most populated states in America, and as such, it is a huge potential market for casinos and sportsbooks. The final set of rules for sports betting in the state was completed in November 2021 and the state will charge a 51% tax on all sports betting revenue. This makes it the highest tax rate for any state in the US.
Despite this, many operators will no doubt want a slice of the New York gambling scene. The state is one of the wealthiest in the country and it is densely populated.