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New York sports betting: What you need to know

 

New York has legalized sports betting now. In 2019, in-person betting started, and in April 2021, legislators approved online sports betting.  For this, NY has selected nine operators to launch the Sportsbook apps in NY this week. One of the most successful is DraftKings New York.

Meanwhile, now, only a few upstate casinos can get to operate the brick-and-mortar sportsbooks. Horse racing and daily fantasy sports are also legal now in New York. This article highlights all the information about all the gaming options in the state.

What’s the situation of sports betting right now in NY?

Retail betting is now legal in NY, and online sports betting also received approval in April 2021. Online sports betting can come to New York in late 2021 or early 2022. The New Yorkers can place an online bet by the Super Bowl. According to reports, Feb 13, 2022, is the deadline for the NY sports betting to go live in the Empire State. The regulators and the sportsbooks are working to lunch before this deadline.

The nine sportsbooks got approval for licenses from the New York State Commission. There are various logistical factors that will be considered before things go live. The approved regulations have to be printed in the state register, and until then, no operator can lunch the apps even if they have got approval for a license.

Online sportsbooks in NY

Experts think that online sports betting in NY will be the next big thing on the market in the US. Since the launch in June 2018, sports betting in NY have already been responsible for 20-25% of NJ sports betting.

NY accepted two bids for sports betting, and these two bids came from the two groups of Sportsbooks. Due to this, nine brands hold temporary licenses in NY, and each of them has to pay 51% of their revenues to the state.

Future of betting apps in New York

There are already so many retail sportsbooks operating in NY, but they are only available in retail form. As mentioned above, online sports betting is expected to come live before the Super Bowl in 2022. The nine brands that go the license are DraftKings, Genting, PointsBet, Bally Bet, BetMGM, Caesars Entertainment, FanDuel, Rush Street Interactive, and Wynn Resorts.

The most popular sports to bet on

Conclusion

In 2013, New York came up with an idea to introduce gambling in the Empire State after legalizing the commercial casinos in the state. After that, sports betting were only legalized in four casinos in NY State. But they don’t offer online betting of any kind in this region. But the idea of online NY sports betting is great, and it holds so many opportunities for the companies and NY. It is expected that a lot more sportsbooks will be available in NY soon. The world is evolving and adapting to new things, and it is time for us to follow that.

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