New York Mobile Sports Betting

  • The New York State Gaming Commission recommended nine mobile operators to be granted mobile sports betting licenses on Monday.
  • Each sportsbook, once launched, will be subject to the nation’s highest tax rate on sports betting at 51%, with the licenses effective for a period of 10 years.

ALBANY, N.Y. – The launch of the mobile sports betting industry in New York came one step closer to materializing on Monday when the New York State Gaming Commission recommended nine mobile operator applicants be granted licenses.

The nine operators that the commission recommended be issued licenses include: Bally Bet, BetMGM, DraftKings Sportsbook, FanDuel Sportsbook, Caesars Sportsbook, PointsBet, Resorts World, Rush Street Interactive, WynnBET, and Kambi.

The announcement comes as no surprise after reports surfaced last week that these operators were expected to receive approval.

Four applicants were rejected by the commission, including Barstool Sportsbook, Fanatics Sportsbook, FoxBet, and bet365.

Launch Expected By Super Bowl

The announcement increases the likelihood that New York mobile sports betting launches by the Super Bowl – a goal that has long been in place – as the licensing approvals came a month earlier than expected.

No operator can launch until the regulations approved Monday are placed in the state register. If those regulations are submitted in accordance with the deadline, they will be placed on the register on November 24th, which would be the first day in which the sportsbooks could officially launch.

Big Day For The New York Sports Betting Industry

As described in New York Assembly Bill A3009C each of the sportsbooks will be subject to a 51% tax on gross sports betting revenue, tied with New Hampshire for the highest such rate in the United States. Each license will be valid for a period of 10 years.

New York expects to see an industry hit approximately $10 billion in legal sports betting when the mobile platforms get up-and-running, which would amount to $1-2 billion in new tax revenue yearly.

BetMGM CEO Adam Greenblatt was among the several figures which released a statement on their licensing:

“We’re pleased to share that BetMGM has been granted a license to operate mobile sports betting in New York, a state vital to ensuring nationwide leadership in sports betting and iGaming over time,” said Greenblatt. “We would like to thank the New York Gaming Commission as well as congratulate them for keeping to their timetable. New York has the potential to be one of the largest sports betting markets in the U.S,” he continued.

The next step for the launch of mobile sports betting in New York is for each sportsbook’s internet servers to be placed and housed within one of New York’s four commercial casinos.

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