Huge sports and casino fan
Huge sports and casino fan
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The New York State Gaming Commission announced on Thursday that it had cleared four companies to launch their mobile betting apps in the state no earlier than 9 am ET on Saturday, one week ahead of the start of the NFL playoffs. This means that bettors across the state can look forward to placing wagers on Monday’s CFP National Championship game between Alabama Crimson Tide and Georgia Bulldogs as well as NFL postseason matchups without having to visit a physical sportsbook or cross over to neighboring states where the market is already legal.
The four operators greenlighted by the regulator are Rush Street Interactive, which owns the BetRivers Sportsbook brand, FanDuel, DraftKings, and Caesars and they are all launching with amazing welcome bonuses! The companies are among nine operators selected to offer mobile betting to New Yorkers through a competitive bidding process in November last year.
The other five – Bally’s Corporation, Resorts World, PointsBet, BetMGM, and WynnBet – will be allowed to launch once they meet all regulatory requirements. These conditions include finding a land-based casino partner to house their servers. According to the NYSGC, the permits for these remaining operators will be approved on a ‘rolling basis’.
Sen. Addabbo Applauds State Gaming Commission for Its Efficiency
As the approved companies prepare to roll out their mobile sportsbook apps on Saturday, New York Senator Joseph Addabbo has issued a statement applauding the Gaming Commission for completing the vetting process for the four operators ahead of schedule.
Earlier this week, the Senator had told the press that the Commission had completed nearly all the work required to get mobile betting off the ground, and that the market would launch mid this month.
‘’I want to thank the Gaming Commission for their efficiency in ensuring that these operators met all the requirements to bring their mobile sports betting product to the people of New York ahead of the NFL playoffs,’’ said Addabbo in a statement about the Gaming Commission’s announcement.
‘’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 Hochul administration and Gaming Commission.’’
Sen. Addabbo is the chair of the Senate Committee on Racing, Gaming, and Wagering and he has been a staunch supporter of expanding the state’s sports betting to include online sportsbooks since 2019.
Online sportsbooks expected to generate millions in revenue for NY
NY sports betting is projected to generate over $1 billion in annual revenue at maturity following the legalization of mobile betting.The state estimates that online sportsbooks will bring in approximately $99 million in tax revenue by the end of the year, and $502 million by 2025.
New York’s huge population and strong sports culture are expected to be the key drivers of the numbers. The state has a population of nearly 20 million people, and it is home to ten professional sports teams.
Companies offering mobile betting in the precinct will be taxed at the rate of 51% of the adjusted gross revenue. The revenue generated by the industry will go to education, gambling addiction treatment programs, youth sports, and the creation of new jobs, according to Sen. Addabbo.
Looking to place a bet in New York this week?