Author:

Michael Tradford

Last Update:

May 12, 2022

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This author was thoroughly tested and approved by the experts at AmericaGambles.com before joining the editorial board to ensure a high content quality.

Author Bio:

 

Michael was Marketing Director in Atlantic City and worked in the casino industry for several years before shifting over to numerous newspapers in New York and Chicago working his way up to Editor-in-Chief. His focus areas are mainly in the fields of sports, gambling, and politics. He has a Marketing Degree, visited Columbia University during his time in New York and is now Editor-in-Chief at AmericaGambles.

Michael was Marketing Director in Atlantic City and worked in the casino industry for several years before shifting over to numerous newspapers in New York and Chicago working his way up to Editor-in-Chief. His focus areas are mainly in the fields of sports, gambling, and politics. He has a Marketing Degree, visited Columbia University during his time in New York and is now Editor-in-Chief at AmericaGambles.

Online Betting Sites in New York

The state of New York was one of the latest to jump on the bandwagon and legalize in-person and online sports betting. More specifically, the New York sports betting industry launched in January of 2022. Right at the start, residents of the Empire State get to join several renowned online sportsbooks that were granted remote gaming licenses by the New York State Gaming Commission.

Speaking of the New York State Gaming Commission, all different sports betting sites and retail sportsbooks are regulated and monitored by the state’s gambling regulator. All legal sports betting New York sites and venues feature impressive sports coverage, alongside other perks and benefits. Officially, online sports betting in New York went live on the 8^th of January.

In the following sections, we take a look at the state’s gambling laws and regulations for the sports betting industry. We also examine which licensed operators cater to New York sports bettors and what kind of sports betting opportunities residents of the Empire State get to enjoy.

When discussing the NY sports betting industry, we have to go back to 2013. This is the year when state legislators legalized retail or in-person betting within the state’s borders. So, before online bookmakers were allowed to operate in the state, residents of New York were able to place sports betting wagers at many retail betting venues.

While sports betting at commercial gambling houses was legalized in New York in 2013, it was not until 2019 that the very first retail sportsbooks started operating. This occurred over a year after the US Supreme Court ended the federal ban on retail and online sports betting enforced by the Professional and Amateur Sports Protection Act.

The law that legalized retail sports betting was passed as the Casino Gambling Amendment. The law was approved by state voters on the 5^th of November 2013. This particular amendment allowed four commercial casinos in the state to offer in-person betting in case of the federal ban on such activities being lifted, which happened in 2018.

Following the US Supreme Court’s decision to lift the federal ban, legislators in the state were finally ready to start working on retail sports betting regulations and rules. In 2019, the retail sports betting New York market finally launched, and the very first retail sportsbook that opened its doors was the Rivers Sportsbook located within Rivers Casino.

Shortly after the Rivers Sportsbook started accepting real money wagers, Caesars, DraftKings, and FanDuel Sportsbooks launched their own retail sports betting operations. When it comes to licensed racetracks, New York houses several harness and thoroughbred tracks, along with both commercial and tribal casinos.

Is Sports Betting in New York legal? We have the answer!

The online sports betting New York market was launched on the 8^th of January. Before the very first sports betting sites started operating, the long-awaited launch was postponed a couple of times. The law which legalized online sports betting the State Senate Bill S17D also legalized the New York sports betting mobile operations.

Right at the beginning, four sportsbooks were granted the required New York sports betting license, including BetRivers Sportsbook, Caesars Sportsbook, DraftKings Sportsbook, and FanDuel Sportsbook. While these launched on the 8^th of January, BetMGM went live on the 17^th of January.

On the 24^th of January, PointsBet Sportsbook joined the market as well followed by Wynn Sportsbook which launched its online sports betting operations in New York on the 3^rd of February and the market continues to expand with every passing week.

As detailed in the main gambling regulation, the New York sports betting tax is fixed at 51% which is considered very high compared to tax rates in other states that legalized online sports betting. Needless to say, every operator that joins the market is obliged to pay the state taxes according to the fixed tax rate for ten years.

It should be noted that this is the highest fixed tax rate on gross gambling revenues in the United States. In New Jersey, the tax rate is 13%, way lower than in the Empire State. While operators have already expressed their concerns about such high tax rates, industry experts believe that New York online sportsbooks will not offer services and products differently from surrounding states.  Before we move on, the New York sports betting age is set at twenty-one.

According to the latest predictions, the state’s online sports betting market could easily become one of the biggest markets of this kind in the country. With every renowned sports betting site catering to mobile sports bettors, there is no wonder why each sportsbook in the state of New York has already launched its sports betting app.

Speaking of NY sports betting apps, they are available for download on both Android and iOS devices. One of the first sportsbooks to launch its sports betting app was Caesars. Those who get the app are offered quite a few rewards and special promos. The app also has a neatly rendered betting lobby with all different betting markets.

DraftKings Sportsbook also offers New York sports bettors excellent mobile betting options via its Android and iOS apps. As expected from such a renowned brand, the DraftKings app works smoothly on all devices, and placing bets on all different markets is hassle-free.

Equally impressive is a mobile sports betting app launched by FanDuel. The company has a long and rich history in the daily fantasy sports industry, so there is no wonder why its sports betting app features quite a few sports betting types. In addition, bettors will appreciate the fact that the app is very similar to the FanDuel desktop platform. BetMGM, PointsBet, and BetRivers Sportsbooks also offer sports betting apps.

The Empire State has a very interesting gambling history, especially when it comes to lotteries and casinos. Speaking of lotteries, the New York state had quite a few lotteries until the middle 1800s when state legislators banned them. Lotteries remained illegal until 1967 when they were finally brought back.

With this being said, the state has the largest sales of lottery tickets which does not come as a surprise considering its long-lasting relationship with lotteries. When it comes to off-track betting, state legislators permitted it back in 1970. Shortly after, the Off Track Betting Corporation was launched to monitor off-track betting activities.

One of the major reasons why state legislators legalized off-track betting was to tackle illegally operating betting venues. Another reason was to establish an extra source of revenue for both state and local governments.

By 1984, the state of New York had many off-track betting venues operating within its borders, and most of these offered live betting options. Today, off-track betting is equally popular, alongside lotteries. Fast forward to 2001, this is the year when the state legalized video lottery terminals at racinos or racetracks.

Today, most racetracks operating in the state offer quite a few other games, including slots and poker. As previously mentioned, casino gambling became legal in the state of New York in 2013. Before 2013, only tribal casinos were allowed to operate. In 2019, retail sports betting was legalized.

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Conclusion

A New and Valuable Sports Betting Market

Shortly after the state legislators legalized online sports betting, six renowned sportsbooks launched. NY sports bettors also jumped on the opportunity to finally place online bets and the industry’s launch was quite successful. With more sports betting sites opening their doors in the state, experts believe the state of New York may easily become home to one of the most profitable online sports betting markets in the United States.

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