New York Sports Betting is Going Live at 9 a.m. on Saturday
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Updated, 5 p.m.
New York online sports betting goes live on Saturday.
The New York Gaming Commission has approved four online bookmakers to begin accepting mobile sports bets “no earlier” than Saturday at 9 a.m. ET.
The four are Caesars, DraftKings, FanDuel and Rush Street Interactive.
This gives New York mobile bettors a chance to wager on, among other big games, a full slate of NFL matchups this weekend and the College Football Playoff National Championship on Monday between NCAA powerhouses Alabama and Georgia.
Five More Sportsbooks Waiting to Go Live in NY
Five other online bookmakers that have applied for a mobile sports wagering license will be approved on a “rolling basis” once they have met statutory and regulatory requirements, the Gaming Commission said Thursday in a news release.
Those five are Bally’s Corp., BetMGM, Wynn Resorts, PointsBet Holdings and Genting’s Resorts World.
Senator Touts Mobile Revenue Opportunities
State Sen. Joseph Addabbo, a New York City Democrat, said Saturday’s startup date, occurring before the NFL playoffs this month, is “great news for New York in terms of revenue, new funding for education, addiction programs and youth sports, as well as new jobs.”
Addabbo is chairman of the Senate Committee on Racing, Gaming and Wagering. This year’s legislative session began Wednesday at the Capitol in Albany.
“I look forward to the other five operators satisfying the statutory and regulatory requirements necessary to launch in the near future and working with the (Gov. Kathy) Hochul Administration and Gaming Commission,” he said in a statement.
New York Green Lights Mobile Wagering Late Last Year
New York, the nation’s fourth most-populous state, will be the largest state in the nation with mobile sports betting. Sports wagering is not legal in the three most-populous states — California, Texas and Florida.
In New York, sports wagering began at on-site casino sportsbooks in 2019. However, off-site mobile wagering — the use of smartphones and computers to place bets anywhere in the state — had been illegal.
In November, the New York State Gaming Commission gave the green light to nine online bookmakers to operate mobile sports betting platforms across the state.
Mobile Sports Betting Expected to Generate Millions for New York
Online bookmakers are required to partner with a land-based casino in the Empire State. The casinos will receive a $5 million annual hosting fee from the sports betting companies.
The online bookmakers will be required to pay a 51% tax for 10 years. That equals New Hampshire’s highest-in-the-nation rate, also at 51%.
This tax rate in New York is expected to generate $493 million in revenue for the state by 2025, according to Forbes.
Online Operators Eager to Get Started
The online bookmakers authorized to begin accepting bets on Saturday expressed eagerness to begin operating in the state.
Jason Robins CEO for DraftKings NY thanked New York public officials and the DraftKings team “for making this a reality.”
“We are excited to finally be able to offer millions of passionate New York sports fans the top-rated DraftKings mobile and online sportsbook,” he said.
FanDuel also expressed excitement about the launch this weekend.
“We are delighted the FanDuel Sportsbook has received approval from the New York State Gaming Commission to be live on Saturday, bringing the excitement of America’s No. 1 sportsbook to the passionate fans of New York,” the company said in a statement.
Also on Thursday, FanDuel New York announced it has formed a multi-year sports-betting partnership with the NFL’s Buffalo Bills.
Mobile Launch Occurring ‘Just in Time’
Chris Holdren, co-president of Caesars Digital, said the company “couldn’t be more thrilled” to be one of New York’s first mobile sports-betting operators.
“Today’s news from New York is an exciting step in the expansion of sports betting and something we’ve anticipated for some time,” he said. “From Buffalo to the Bronx, New York is a special place, and we’re grateful for the chance to show the Empire State what it’s like to be a part of the Caesars Empire.”
Rush Street Interactive CEO Richard Schwartz said the launch is coming “just in time.”
“With the college football championship game on Jan. 10 and the NFL playoffs approaching, and the NBA and NHL seasons in full swing, in addition to countless other sports and betting options available for play, fans have endless entertainment at their fingertips” on the BetRivers platform, he said.
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