Online Sports Betting: Coming Soon To Ny
Things took a quick and unexpected turn when outgoing Gov. Andrew Cuomo revealed he had included online sports gambling in his 2021 state budget.
After officially signing off on NYs mobile sports betting law in April 2021 and outlining some rather unfavorable conditions for interested providers Cuomo and the New York State Gaming Commission set an August 9, 2021 deadline for FanDuel, DraftKings, and other providers to submit their bids to obtain a mobile betting license in New York.
The NYGC is expected to announce successful applicants by January 2022. A minimum of two platform providers and four total sportsbook licenses will be handed out at that time.
New York Legal Sports Betting Laws & Timeline
Key events in the legislative history of New York sports betting are:
- ð 2013: New Yorkers approve a ballot measure that permits five new casinos to be built and allows sports betting if it is legal under federal law.
- ð 2018: The Supreme Court rules that the Professional and Amateur Sports Protection Act breaches states’ rights under the 10th amendment. States can legalize sports betting themselves. This triggers the 2013 New York law provisions legalizing sports betting.
- ð 2019: Six years later the first legal NY sports bet was placed at the Rivers Casino Resort in Schenectady.
- ð The 2013 law did not permit mobile sports betting. In response to the Covid-19 crisis Governor Cuomo supported a state budget that included specific text authorizing online and mobile sports betting.
- ð The NYS Gaming Commission began accepting license applications.
- ð The Gaming Commission released the list of nine licensees who had agreed to pay 51% in gambling taxes.
- ð Earliest date when an online sportsbook could launch in New York.
- ð Super Bowl LVI takes place. All nine licensees are expected to be taking bets by this date.
Latest New York Sports Betting News
New York is slowly but surely getting ready to launch online sports betting throughout the state after former Gov, Andrew Cuomo, who resigned earlier this month, put forward a bill that will see online sports wagering introduced to New York at some point in the future, with a date for this introduction not yet agreed upon.
A number of sportsbooks have already put their names into the hat to secure a license to open up in the state, with the likes of BetMGM and bet365 expected to join them in the near future.
Retail sports wagering is currently available in select venues across the state, with online betting expected to be introduced in time for Super Bowl 2022, which takes place February 6th next year.
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How Long Will It Take To Get The State Ready For Sports Betting
This could take weeks, if not months. While online sports betting rules and regulations have been approved by the NYSGC, they wont be fully adopted until Nov. 24.
Technically, sportsbooks would be able to launch on an individual basis immediately after, assuming theyve checked all the necessary boxes.
But regulators must ensure that the technology is fully functional and secure for customers. Theres significant pressure to make sure everything is running smoothly ahead of the potential launch.
Retail Sports Betting Vs Mobile Sports Betting
New York took until 2013 to legalize retail casinos. These casinos didn’t even start offering sports betting until 2019. Most are a long drive from where you live-that’s true for every New Yorker. Online and mobile sports betting is available at home and wherever you happen to be in the Empire State.
You will also find that you can make smaller bets at New York online sportsbooks. Minimum deposits are small and you can place bets as low as $0.10 at most online sports betting sites.
Of course you don’t get the real casino experience but then again you don’t get the real casino expense either. Trip plus accommodation plus meals eats into any possible winnings you might make. With online sports betting you can enjoy it at home with family and friends without breaking the bank.
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Best Bonus In Your State
2019 has started without legal sports betting in New York, either online or offline, but New Yorkers wont have to wait long.
With a sports betting bill already in the works, legal betting is expected to be available at four locations in New York in early 2019. Were hoping online betting options will follow soon after.
This page is your complete guide to getting ready to bet on sports online in New York state, including:
- The current and future options for online sports betting.
- The current and future options for in-person sports betting.
- How to sign up and start betting when online sports betting arrives.
For more detailed information on the laws, refer to our full guide to legal sports betting in New York.
Who Regulates Ny Sports Betting
New York gambling is regulated by the New York State Gaming Commission . This same entity regulates retail sports betting and will also regulate mobile/online sports betting when it eventually launches. Tribal sports betting does not fall under the jurisdiction of the NYSGC as the tribes are considered sovereign nations.
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New York College And Professional Sports Teams
New York City is often called the media capital of the world and one could say that the state of New York is the sports capital of the world. With numerous colleges fielding teams that compete at the level of NCAA Division I and over a dozen pro teams as members of a major professional sports league, itd be hard to argue that NY isnt king when comes to housing sports teams. And if youre betting at any of the 18+ online sportsbooks we recommend, then you can find all of the teams below frequently featured in betting lines and odds.
Which Online Sports Betting Sites Are Legal In New York
Right now? None of them. It is possible to bet on sports online in New York using unregulated offshore sites but betting with these sites comes with risks.
While technically not illegal for Americans to use, they are certainly not legal either. And since these casinos and sportsbooks are located in other parts of the world and not subject to American laws, it can be a massive headache if you run into problems with them.
In the past, people have lost money and even their entire account due to companies going out of business or not treating customers fairly.
Since legal sports betting is all but guaranteed to arrive in New York in 2019 we strongly recommend waiting for fully safe and regulated options. If you dont want to wait, consider betting on sports in New Jersey where its already 100% legal.
And even though the plans regarding online gambling are not totally clear at the moment, it likely that once sports betting is legalized, online betting wont be far behind.
Make sure to check this page regularly for major developments as they happen.
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What Promotions Will Legal New York Sports Betting Sites Offer
Sports betting is a ferociously competitive market place. The battle to lure customers is intense – and one way in which sportsbooks try to ensure loyalty is through promotions.
Welcome bonuses, odds boosts and other offers are tried and trusted weapons of enticing and retaining customers, and they will undoubtedly be deployed by sports betting companies in New York.
Naturally, this is good news for NY sports betting enthusiasts. However you like to enjoy a wager or two, there should be a promotion that works for you.
Yellow Brick Road Casino Chittenango
The third The Lounge with Caesars Sports is at the Oneida Nations Yellow Brick Road Casino.
The lounge has a 32 video wall and over 30 large display TVs. The largest six of these have 85-inch screens. There are also seven VIP areas known as caves for exclusive game-day events and dozens of recliners to relax in as you watch the action.
All in all the area offers space for over 200 sports fans.
Opening hours are:
- Monday Thursday: 12 p.m. 8 p.m.
- Friday: 12 p.m. 10 p.m.
- Saturday Sunday: 10 a.m. 10 p.m.
Yellow Brick Road Casino is located at 800 W Genesee St, Chittenango, NY 13037.
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Mobile Betting In New York
Mobile sports betting has been approved in New York, but the amount of fine print and the restrictions are not going to make it as friendly for bettors as it could have been. Governor Andrew Cuomo did a 180 as a result of the COVID-19 pandemic and became more open to the idea of mobile and online sports betting, but put his foot down that it was going to be done his way.
Sports bettors in New York have to at least be somewhat excited about the developments, especially because the heaviest of the heavy hitters are going to be involved, but it will not be a wide-open market like the state of New Jersey. It should be enough to keep money from New York City inside of the state, which was Cuomos only concern.
Bettors in New York will have choices. The number of choices that they have remains up in the air, but major players like DraftKings and FanDuel are undoubtedly going to be involved. They already have a foothold in the state from retail partnerships with brick-and-mortar casinos in other parts of the Empire State. The same is true of Bet365 and BetRivers.
Moving forward, well have to see if operators like PointsBet and Barstool are able to get going.
On the other hand, were talking about some big costs. The fee is $25 million for a 10-year license and the additional costs are pretty excessive as well. Certainly getting a piece of the NYC market is going to outweigh the costs for some of the operators, but it may cause others to shy away from getting involved.
Forecast Of New York Sports Betting Revenue
The licensed sportsbooks are paying dearly for the privilege of offering New York sports betting. The tax rate is set at an astronomic 51% of gross gaming revenue. For comparison the rate in Nevada is only 6.75%. Experience around the world suggests that after an initial period of high value promotions the sportsbooks will reduce their marketing spend.
On the plus side the state will generate significant revenues to help with state finances. By 2025 New York’s sports betting revenues could reach as high as $10 billion. Half of that could go in taxes to help New York recover from the Covid 19 crisis. At the moment much of the revenues from sports betting go to offshore illegal sites. Alternatively, many New Yorkers take the short trip to New Jersey to bet.
Now that legal online sports betting is available there’s no reason not to bring those revenues home to the Big Apple.
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Where Could New York Improve Online Gambling
Sports bettors in New York, particularly those in NYC, are taking their wagers to New Jersey. It can take under 10 minutes to get from certain parts of Manhattan via PATH or ferry, which is far easier than the two-hour drive up to Resorts World Catskills.
Bottom line: New Yorkers are spending millions of dollars in more favorable sports betting markets. Some would reasonably consider that a massive legislative failure.
Both Iowa and Indiana launched online sports betting before Illinois. This meant Illinois had similar problems to New York, losing millions in tax revenue to neighboring states. Then, Illinois legalized a casino-style online sports betting market, and its currently the fourth-largest sports betting market in the US.
New York had the opportunity to follow Illinois example. Instead, it will have a more limited sports betting market, which could still send most existing online sports bettors across state lines.
At the same time, many New York residents may be waiting for legalization. This untapped market could be willing to forgo less favorable odds to legally bet online in-state and make up for all the bettors who will take their money elsewhere.
Basically, and no matter what the revenue numbers show, New Yorks online sports betting rollout may be a disappointment for serious sports bettors as well as sports betting operators.
New York Teams To Bet On With Draftkings
Several New York Teams are great options to place bets on with DraftKings Sportsbook.
NFL: The Buffalo Bills, New York Giants, and New York Jets are all exceptional options to place your next wager on. These New York State-based NFL teams all bring with them their own unique and historical past. If you are a fan of your hometown NFL team, then Draftkings Sportsbook has you covered, as DraftKings has every NFL game, every Sunday.
NBA:Both the Brooklyn Nets and New York Knicks are available on DraftKings Sportsbook, alongside every NBA squad. If you want to get a team future to bet on the win totals for your favorite NBA team, you can go do so with DraftKings Sportsbook.
MLB:The historic franchises of the New York Yankees and New York Mets both have their odds right now on DraftKings Sportsbook. The MLB offers some of the greatest variety when it comes to types of bets. You should have fun and find a unique bet with one of these two New York staples right now.
NHL: The Buffalo Sabres, New York Islanders, and New York Rangers are all available to be wagered on, on DraftKings Sportsbook. Ice Hockey is a North American classic, and you can bet on it like any other sport with DraftKings.com.
Other Sports:
- Lacrosse: New York Lizards , Buffalo Bandits , New York Riptide , and Rochest Knighthawks .
- Soccer: New York Red Bulls , New York FC
- Rugby: Rugby United New York , Brookly Kings , New York Knifhts , White Plains Wombats
- E-sports: New York Excelsior , New York Subliners
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Ny Sports Betting Compromise
One thing that could be categorized as a win for New York sports betting is the model the state has put forth. Originally, former Gov Andrew Cuomo campaigned hard for a lottery-run model, which would limit the number of operators and likely give bettors a worse experience than they could find in neighboring New Jersey or Pennsylvania. Cuomo did get his way, though proponents of a more casino-based model improved the states outlook. Now, there will at least be four sports betting skins.
Though it wont be a wide-open market like New Jersey, New York will at least have a fair amount of competition among betting operators, which means an overall better experience for bettors.
Do I Have To Be In Ny To Bet Online
Yes, you will have to be located in New York State to place an online sports bet. One hurdle that confronts any state considering online sports betting is the notion of how to ensure that sports betting on its apps takes place only inside state lines. Regulators will accomplish this goal by requiring sportsbooks to employ geolocation verification software as part of their online offering. Before any bettor can place a wager, the betting app needs to pinpoint the bettors location inside New York reliably.
Geolocation software, for its part, is actually quite accurate these days. It can effectively create a virtual fence around the state in question. On a phone or tablet, the app uses the built-in GPS of the device. On a desktop browser, users are asked to download and install geolocation software.
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A Hybrid Model In New York
New York will be operating mobile betting under a hybrid model, that is neither lottery run, state-run, or commercially run. Initially, former Gov. Cuomo wanted a model similar to that in Oregon or as initially envisioned in Washington DC. This model is state-run, or lottery run with only one betting app available to bettors, leading to poor odds and no competition.
On the other end is a relative free-for-all, more commercial model, which we see in states like Michigan, New Jersey, and Arizona. These states have more than a dozen apps each, providing a competitive market with strong odds and lots of bonus opportunities for new bettors.
The New York model appears to be a hybrid of the two. When the legislation passed in the spring of 2021, it seemed that New Yorkers would see two betting platforms with a minimum of four apps.
Depositing And Withdrawing From Ny Sportsbook Apps
Once youve finished registration, your next stop is likely to be the cashier. The following section will walk you through all the options that youll have for banking with New York sportsbooks. Sportsbooks have a vested interest in making sure transactions are as painless and flexible as possible, so they offer as many ways to deposit and withdraw as their systems allow.
You should be able to find at least one method that works for you. If not, thats a perfectly legitimate reason to look elsewhere for a sportsbook. Given the fact that there are even ways to deposit with cash, its silly to waste your time and money on a book that cant get it together.
Here are the most common methods of depositing into a New York sportsbook app.
- Electronic wallets
- Online banking and wire transfers
- Prepaid cards
- Cash
Many of these methods will also work for withdrawals. However, be prepared for the fact that withdrawal methods are usually a bit sparser.
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