Sports betting has become increasingly popular in the United States as more states legalize it. New York has hesitated to authorize sports betting, but in 2021, Governor Andrew Cuomo approved a bill legalizing online sports betting making it legal since January 2022. The article examines the legality of sports betting in New York including online activity, the situation in the state in comparison to other U.S. states, as well as and how to place bets online in New York.
In New York, online and in-person sports betting is permitted at casinos. The state officially legalized sports betting at commercial casinos in 2013. Still, it was in July 2019 that the first in-person sportsbooks began operating after the federal ban on sports betting was lifted. In 2021, online sports betting was added to the state budget bill, signed into law by Gov. Andrew Cuomo in April of that year. There are currently nine sportsbook apps throughout the state alongside traditional in-person betting options.
New York is one of the largest states in the US, both in terms of population and economy. Initially, it was slow to adopt sports betting compared to other states, but now it is the largest legal sports betting state in the monthly handle. Before now, New Jersey has been at the forefront of sports betting legalization in the US, and it has quickly become one of the largest sports betting markets in the country. Other states that have legalized online sports betting, such as Pennsylvania and Michigan, have also seen significant growth in the industry.
New Jersey offers over twenty-five sportsbooks, while New York has only nine. The Garden State levies a 13.5% tax on mobile sports wagers, but New York requires operators to pay the state 51% of their sports betting earnings.
Even though Pennsylvania currently has one of the highest tax rates and license costs for sportsbooks in the U.S., New York's fees are even higher. For instance, the application cost for New York sportsbooks is $25 million, higher than Pennsylvania's previous record of $20 million.
Each casino in Pennsylvania has only one sportsbook brand, which provides far more possibilities than what will be accessible in New York.
How to Bet Online in New York?
There are currently nine NY online sportsbooks available for wagering. Residents of the entire state can wager at DraftKings, FanDuel, Caesars, PointsBet, BetMGM, Resorts World Bet, BallyBet Sportsbook NY, WynnBet, and BetRivers.
You must register an account to place your first online wager in New York. This procedure typically takes less than ten minutes. Here's how to proceed:
Finally, you are ready to place your bet choosing a sport you would like to wager on, and a competition. Don’t forget to study the odds.
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