If you are a fan of sports betting, we’d like to share some very exciting news. The New York State Gaming Commission announced the approval of four NY mobile betting platforms that launched on January 8th 2022. Of course, placing sports bets in-person has been possible for quite some time now in the state. However, the official launch of these brands marks a completely new era for the sports betting industry in New York.
NY Mobile Sports Betting - March 2022 Update
The seven active mobile NY sports betting operators combined for $1.491 billion in bets through all but one day of February.
Considering that average handle per day works out to $55.2 million, it should be safe to assume the entire month of February will eclipse the $1.5 billion mark. The official monthly breakdown might not come until next week.
That sets New York sportsbooks up to pay about $41 million in taxes for February. That would push total taxes paid to more than $100 million already for less than two months after $63.2 million paid in January.
Update: March 9, 2022
More Mobile Sportsbooks Combing?
If the proposed legislation passes, New Yorkers could see the number of mobile sportsbooks in their state nearly double by 2024.
New York State Assemblyman J. Gary Pretlow is attempting to increase legal online sportsbooks from the current nine to 16. The state launched online sports betting in January, and New York has quickly become the largest market in the nation. In less than two months since the launch, New York has taken more than $3.1 billion in sports bets, and the state has received $104 million in tax revenue from the sportsbooks in operation.
The proposed legislation comes at the same time as some in Albany are trying to lead the state into even more gaming territory. Senate Racing, Gaming, and Wagering Chair Joe Addabbo is the sponsor of a bill that would permit New York online casinos to launch through partnerships with retail casinos, New York State tribal nations, and their independent contractors.
Update: March 9, 2022
NY mobile sports betting received the nod of approval from governors in April 2021. But as NY punters know all too well, getting the papers and licenses sorted for brands to launch has taken quite some time. But finally, the time is here, where bets can now officially be made on mobile devices from anywhere in the state.
Update: January 24, 2022
PointsBet NY is coming - As of Jan 24, 2022, PointsBet NY is the 6th operator to be approved for NY mobile sports betting.
Naturally, you must still be over the age of 21 and be a NY resident to legally make any wagers. So, who are the approved brands? Let’s get into it.
NY Mobile Sports Betting: The 6 Operators Currently Live
Of the 9 operators that have applied for NY mobile betting licenses, 6 have been granted one, PointsBet NY being the latest addition. Interestingly enough, out of the six approvals, 5 already have in-person sportsbooks located around the state. Check out all 6 operators right here:
Pointsbet is said to be among the fastest-growing online sports betting operators in the USA. The Australian company has formed numerous partnerships across the country, and this allows them to be competitive with the big players on the market. PointsBet has its own mobile app for the residents of the state of New York and all the special offers can be found there as well. New players in the Empire State will be eligible for a $500 free straight bet as well as a $1500 risk-free PointsBetting offer.
BetMGM recently got a license to operate in the state of New York and we can safely say that the betting giant has added plenty of value to the market. They currently do not have a physical location in the state, so betting happens only online. This, of course, is fine for most players because new users can claim a risk-free bet in the size of $1,000. Along with that, BetMGM NY offers its customers special bonuses on the NFL such as same game parlays, price boosts and the ‘’edit my bet’’ feature.
The DraftKings sportsbook is located at del Lago Resort, which shows another physical partnership that has led to the approval of this brand. DraftKings already operates in many states across the US too, typically boasting a $1,000 introductory offer for new customers. This is coupled with extensive sports betting opportunities too, so we are expecting great things from these guys.
FanDuel is pretty much on a par with DraftKings in terms of reputation and size. The FanDuel sportsbook can be found at Tioga Downs, and as you have no doubt guessed, this is the physical sportsbook that has enabled the NY mobile sports betting license to be approved here. Much like DraftKings, FanDuel is also known elsewhere for its $1,000 risk-free welcome offer. We expect this to also come to fruition in the coming days.
Caesars is synonymous with quality betting offerings these days, and they operate all across the US. The Caesars sportsbook will move online thanks to not one, but three separate partnerships with physical casinos. These include the Yellow Brick Road Casino, Turning Stone Resort, and Point Place Casino. If Caesars’ online sportsbooks elsewhere are anything to go by, we expect to see live betting, cashouts, and regular bonuses!
As you may know, Rush Street has a physical sportsbook at the Rivers Casino & Resort. This partnership has been pivotal in Rush Street Interactive receiving approval to launch the BetRivers mobile sportsbook in New York. And like all other brands mentioned here, the mobile sportsbook is available from Saturday, January 8th.
Mobile sports betting NY - specifics of the new industry
51% taxes for operators
All approved operators are required to pay back 51% of their total revenue to the state of New York. These additional funds will go towards addiction programs, new jobs, funding for education, and much more.
3 more licenses are pending
Although only 4 mobile sportsbooks launched initially on Saturday, January 8th, 2 more licenses have been approved since then - namely BetMGM and PointsBet. As of January 26th, 3 more licenses are pending. These haven’t yet been granted as the New York State Gaming Commission believes they have not yet satisfied the requirements. With that said, the 3 pending licenses are for WynnBet, BallyBet, and Bet365.
KYC checks will be extensive
When registering at these mobile sites, you will need to complete extensive KYC checks. This means you’ll need to prove your ID, address, as well as provide your SSN for tax purposes. These checks must be passed before you can bet on sports.
- Please visit the official bet365 website for the most updated information
- Bet365 – T&Cs apply / New Customers Only / Commercial content / 21+