On Thursday, the New York Gaming Commission announced four sportsbooks could open on Saturday, January 8, at 9 a.m. ET. That’s today, in advance of NFL Week 18. The operators that can go live after meeting regulatory requirements are:
According to the Gaming Commission, the operators will decide when to start accepting bets based on their level of preparation and business capabilities. They’re likely to start accepting them this morning if you look at past state launches.
Retail Betting is Already Legal
Sportsbook apps were approved back in April last year. The state watchdog selected nine apps in November 2021. In 2013, state regulators made sports betting at commercial casinos legal. Irrespective of the outcome of the NFL season, residents of New York will be able to bet online by the time the Super Bowl comes around.
The Largest Market?
New York’s online sports betting market could become one of the biggest, if not the biggest in the country. Since the launch in June 2018, New York bettors are believed to comprise up to a quarter of the New Jersey sports betting market. In November 2021, the New York State Gaming Commission accepted two bids from two groups of allied sportsbooks to offer online sports betting.
As a consequence of this, conditional online sports betting licenses have been issued to nine brands in New York. Each one will be paying a whopping 51% of its revenue in taxes. Here is more information about some of them. Have a look at PlayNY.com for further details.
FanDuel was well known in New York before the brand’s sportsbook launched at Tioga Downs. Daily fantasy sports are available to people statewide through this provider. In fact, their head office is located in New York City.
The famous DFS company’s DraftKings Sportsbook is the sports betting branch. Quite a few people have tried DFS in New York. The betting carousel is among the first things they notice about the DraftKings app in New York. It is a rotating display showing a series of bets found most relevant by the operator based on the player’s chosen preferences and their wagering history.
This is the sportsbook app for the Rivers Casino brand. The standout features of the Rush Street Interactive brand include parlay options depth. It is much greater on BetRivers than on comparable sportsbooks. The app makes it possible to add parlay legs from the same game, which is quite rare in sports betting.
The Yellow Brick Road, Point Place, and Turning Stone casinos in upstate New York feature retail versions of Caesars sportsbook, so it probably doesn’t need an introduction. The operator’s varied rewards program features an extra bet for one’s birthday month and one free monthly bet among other things.
The Economic Impact of NY Betting
Although New York has offered physical sports betting since 2019, the tax revenue generated falls short of $4 million in this period. The state has four such sportsbooks, but they are all relatively far from New York City. The state should derive great economic advantage from online sports betting. At the same time, bettors won’t be impacted by the huge tax rate.
It has been estimated that the Empire State would have obtained tax revenue of at least $1 billion if it had legalized online sports betting at the same time as New Jersey. The Garden State has become the leader in this market.