New York Online Sports Betting Passes Final Step In Regulatory Process

Nicole Fridling/Icon Sportswire

Get ready New York sports fans and sports bettors, you are one step closer to legal online sports betting in New York. On Nov. 24, the New York State Register unveiled the official framework required for sports betting to launch in the state. 

With the guidelines now in place, many expect mobile sportsbooks to launch in New York sometime before the Super Bowl on Feb. 13, 2022. 

In addition to the recent rules and regulations, the New York State Gaming Commission recently named the first nine mobile sportsbooks that will be allowed to launch in New York. The initial list is comprised of Bally Bet, Bet MGMCaesars Sportsbook, DraftKings, FanDuel, PointsBet, Resorts World, Rush Street Interactive, and WynnBet.

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When Will Mobile Sports Betting Launch in New York?

The recent release of the official guidelines is a massive step in the right direction for legal online sports betting in New York. It is essentially the last step in the process prior to allowing licensed sportsbooks to offer their mobile sports betting apps in New York. Now, the onus is on the sportsbooks to prepare for launch. 

A New York State Gaming Commission spokesman told WKBW’s Jeff Russo that the launch date “depends on the licensee getting things sorted out.”

While this update is a bit unclear, we can say with confidence that we fully expect online sportsbooks to be available in early 2022, if not sooner. One reason is the NFL season is still in full swing, and the Super Bowl is rapidly approaching. We would be surprised if New Yorkers cannot bet on the sports by then as the Super Bowl is one of the most popular sporting events for sports bettors.

Also Read: Downstate New York sports betting kiosks possible with new bill

Licensed Sportsbooks in New York

These nine sportsbooks allowed to launch mobile platforms are now tasked with preparing their servers and operations.

Within the licensing agreements is a stagnant tax rate. These nine sportsbooks are locked into a 10-year license that requires them to pay 51% in gross sports betting revenue tax to the state of New York. Furthermore, there is no set date the sportsbook can launch. They are free to do so at their own convenience provided they meet all the requirements. 

It is worth noting that major sportsbook operators such as Bet365, Fanatics Sportsbook, FOX Bet, theScore Bet, and Barstool Sportsbook were not granted licenses in New York, though all of them submitted proposals for approval.

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