New York Online Betting Promos, Laws, and Facts: Five Things You Need to Know
Last Updated: 
NY sports betting apps have been given the OK to go live Saturday morning. That means you’ll have the chance to bet on football, basketball, baseball and a whole lot more via your computer or mobile. However, before you join a New York sportsbook, here are five important things to consider:
1. New York Sports Betting Promo Offers
In the same way every local New York sports betting app has different odds and features, they also have different offers. For example, FanDuel Sports gives new customers a risk-free bet worth up to $1,000, while BetRivers gives newbies a $250 deposit match.
It’s your job to know what’s available. Again, our guide is here to help. We’ve reviewed all the latest New York sports betting bonuses. What’s more, we also have special promo codes that unlock exclusive deals.
2. Age and Location
Sports betting is now available within the state, but it’s not open to everyone. Local laws assert that you must be 21 or older to bet online or in-person. Additionally, because sports betting isn’t federally regulated, laws are defined by states. That means you must be in the state to access local sports betting apps.
Every licensed app contains geolocation software. You must allow this feature to determine your location. If you don’t and you fail to provide valid identification when promoted, you won’t be able to use a local betting app.
3. Know Your Limits
Each sportsbook has its own betting, deposit, and withdrawal limits. Naturally, you’ll have a bankroll and your own preferred limits. However, it’s important to know how these fit in with the limits at your chosen betting site.
For example, the minimum deposit at Caesars NY Sportsbook is $10. That means you’ll have to add at least this much to your account to start betting.
4. Odds and Options
NY Sports betting companies are competing for your attention. That’s why they all offer different odds and features. For example, DraftKings NY Sportsbook offers odds on lacrosse, but BetRivers doesn’t. Similarly, BetMGM has live streams, WynnBet doesn’t. You’ll also find that certain sportsbooks offer better odds than others.
Therefore, it pays to shop around. Our reviews will give you an insight into every local betting app. Once you’ve read these, use our links to sign up and test things out for yourself. Only by doing these things can you find the best app.
5. What’s My Tax Liability?
Profits from gambling are taxable in the U.S. Therefore, if you’re going to bet on sport, you need to know your tax liability. As a standard, gambling winnings are subject to a federal tax rate of 24%. You’ll also have to pay New York state tax based on your income. The local rates range from 4% (total annual income up to $8,500) to 8.82% (total annual income over $1,077,550).
Keep these things in mind when you scour the New York online sports betting scene and you’ll be heading in the right direction. Then, assuming you bet responsibly and remember to have fun, the opportunities are endless.
Be first to get our exclusive sports offers!
Join today to stay up to date on your states gambling news and offers.
Updated by
Daniel Smyth
Last Updated:
