Online sports betting to begin in New York State on Saturday
The wait is finally over! Online sports betting is coming to New York State beginning this Saturday. The Gaming Commission has revealed that four operators were approved to start offering services just in time for the last week of regular NFL games and the Super Bowl.
Services can begin at 9 am this Saturday. The four licensed operators that are approved to begin include DraftKings, Rush Street Interactive, Caesars Sportsbooks, and FanDuel. Each of these companies says they will be ready to launch on Saturday.
Mobile Betting Coming Soon
Players as well as the operators are excited to get the ball rolling with mobile betting. Caesars started a television ad campaign to prep New Yorkers for gambling. Apps are primed and ready to go, with players able to set their first wager starting early tomorrow morning.
The state expects to bring in around $10 billion a year in bets with around $1 billion in profit split between the providers and the state. So far, around $200 million has already been paid by the sports betting companies just for licensing. The tax rate is split at 51%, quite high when compared to other states offering the same services in the US.
DraftKings CEO, chairman, and co-founder, Jason Robins, commented on the upcoming launch by stating: “We are excited to finally be able to offer millions of passionate New York sports fans the top-rated DraftKings mobile and online Sportsbook.”
A Huge Boost to the Industry
With mobile betting in play, the sports betting industry in New York will see a huge boost in betting totals and revenues. Before the option, players in New York could only post a bet at upstate casinos. This was an issue for those located in the lower portion of the state as they had to travel to wager.
Many players located near New Jersey would just create an online account there and go place a mobile bet whenever they wanted. Of course, this took away revenues from New York and the new launch will capture that audience back.
Of course, there are also critics who feel that the addition will create new gambling addicts. To avoid major issues, operators will be sure to screen check players, especially those who post big wagers. DraftKings will complete this process to ensure that bettors are not gambling above their means.
There will also be millions in annual funding put towards programs that focus on gambling addiction so anyone in need of help will have access to services.
Bettor Collective Enters the State
With the launch of online sports betting in New York, Bettor Collective will be able to enter the market. The company has signed a partnership agreement with three of the upcoming operators and is in talks with the remaining provider.
Bettor Collective will use its position in New York to provide sports fans with information, betting lines, and statistics via its platforms including Vegasinsider and Action Network.
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