New York Mobile Sports Betting Market Launches

The New York State Gambling Commission announced that four of the nine licensed mobile sports betting operators, Caesars Sportsbook, DraftKings, FanDuel and Rush Street Interactive (BetRivers), have met all of the necessary requirements to start operating. Companies were able to start the service last Saturday, 8.

The regulator explained in a press release that after that effective date, each licensee can determine when to accept bets “based on their business capabilities and readiness”.

The remaining five conditionally licensed operators “(PointsBet, BetMGM, Resorts World, BallyBet, WynnBet) continue to work to meet the legal and regulatory requirements necessary for launch and will pass on an ongoing basis when the requirements are met.”

The four authorized sports bookmakers have partnerships with casinos in New York. Operators must host their servers in state casinos. This announcement means players can place bets for the final week of regular season games for the National Football League (NFL), the upcoming playoffs and the Super Bowl.

New York expects US$10bn in sports betting next year

New York expects $10 billion in sports betting next year, with nearly $1 billion in profits split between the state and operators. The state has already received $200 million in license fees from mobile sports operators, and the companies have agreed to pay a 51% tax on gross revenue, the highest in the United States.

“This is a great time. It’s a victory for the state of New York,” said state senator Joseph Addabbo Jr., chairman of the Racing, Gaming and Betting Committee. “Mobile sports betting will generate additional revenue for the state, including for education and will create jobs.”

The senator also noted that there will be $6 million in annual funding for gaming addiction programs. “We’re going to need some time, but I believe we have the capacity to surpass New Jersey in terms of control.”

“This is good news. It’s definitely a good time. We said we wanted mobile sports betting to start before the Super Bowl. We are ahead of schedule,” said Assembly Betting and Gaming Committee chairman Gary Pretlow.

Caesars funded a TV advertising campaign to alert New Yorkers that it is prepared to trade sports betting.

“We are thrilled to finally be able to offer DraftKings mobile and online sportsbook services to millions of New York sports fans,” said Jason Robins, DraftKings CEO, Co-founder and Chairman, in a press release.

“We want to extend special thanks to Gov. Hochul, Senator Addabbo, Rep. Pretlow, the New York Gaming Commission, along with the tireless efforts of our DraftKings team to make this a reality,” also appears in the note.

New York betting market potential

Richard Schwartz, CEO of Rush Street Interactive, said: “The long-awaited launch of online and mobile sports betting in New York – the largest online sports betting market by population in the United States – is here, and just in time.”

Schwartz continued, “With the College Football Championship game set for January 10 and the NFL playoffs approaching, and the NBA and NHL seasons in full swing, plus countless other sports and betting options available to play, the fans have infinite entertainment at their fingertips on BetRivers”.

RSI is one of only three companies with access to the online gambling market in New York, New Jersey and Connecticut. In New York, the group oversees sports betting operations at Rivers Casino & Resort Schenectady, which was the first retail betting service in New York history to accept legal sports betting and has been the state’s leader in revenue since its launch in 2019.

Schwartz concluded, “We are grateful for the trust of the New York State Gaming Commission and for their professional and efficient support as we work to meet all launch requirements.”

Neale Deeley, Executive Director of Sportradar, said: “As the fuel that powers US operators, we are very excited to open up the New York market to mobile betting. This decision allows our partner operators to offer live sports betting on cell phones across the greater state of New York.”

“With more than 20 million residents, New York is the largest state to launch online sports betting since PASPA was taken down, so this is a great opportunity for all stakeholders within the ecosystem and will open up new possibilities for more innovations in betting ”, he added.

For Deelay, “New York is the media capital of the world. We’ve seen the rapid convergence of media and gambling across the country, and this development will take the real-time fan experience to a whole new level.”