In April of 2021, former Gov. Andrew Cuomo signed Assembly Bill A3009 and officially authorized mobile betting in the state of New York. For many months, residents had no clue as to who would be in operation and when sportsbooks would launch.
Rumors of a December launch were just that—rumors.
Mobile Betting To Launch Saturday
But on Wednesday, the New York Gaming Commission announced that mobile betting options would be available to residents on January 8th. The sudden announcement made for a pleasant surprise for bettors.
Many were unsure as to whether mobile betting would go live before the NFL playoffs or even the Super Bowl. And while those promises were made and kept, there were few updates along the way.
The New York Gaming Commission seems hopeful that revenues will compare to those in neighboring states such as New Jersey and Pennsylvania.
“We have double the population of New Jersey and we have more than double the tourism, so we should be competitive… But New Jersey came out with projections in the early going and they were overestimated and that didn’t help. Since then, they’ve obviously knocked it out of the park.”
NY Sen. Joe Addabbo
Nine sportsbook operators have been selected to hold mobile betting licenses. The names are as follows:
- Caesars Sportsbook
- PointsBet
- Resorts World Bet
- Rush Street Interactive
- WynnBET
- Bally Bet
- BetMGM
- DraftKings
- FanDuel
However, only five of these brands will be launching on Saturday. Caesars, DraftKings, FanDuel, and Rush Street Interactive/Bet Rivers will each have their respective sportsbooks available for wagers on Saturday.
WynnBET, Resorts World Bet, PointsBet, and BetMGM must wait until all regulatory requirements have been satisfied.
Big Bills Rolling In For The State
And while New York sports betting isn’t exactly new, the mobile betting expansion is set to bring millions in annual tax dollars for the state.
New York will be charging mobile betting operators more taxes than in any other state, demanding that 51% percent of all profits be paid to the government.
While this number seems steep, it is a surefire way for the Gaming Commission to circumvent the issue of legal loopholes. In other sports betting states, operators have been shelling out bonuses and free plays at an unprecedented level.
Because of these promotions, operators have been able to skip out on paying such large sums to the state. This is becoming an especially problematic issue in Arizona.
Overall, it seems that the New York Gaming Commission has taken a slow and proactive approach to this gambling expansion. The efficacy of this strategy won’t be seen for a few months.
At 9 am on Saturday, bright and early, bettors can download any of the available sportsbook apps and wager as they please. Wherever and whenever.
Source: New York Post
