New York

New York Online Gambling Bill Inches Closer



New York Online Gambling Bill Inches Closer

While in-person sports wagering has been legal in New York for quite some time now, online gambling has been a bumper road that finally, in 2021, became a bit smoother. As the New York online gambling bill inches closer, sports enthusiasts hope that New York online sports betting will launch by the end of 2021, just in time for the 2022 Super Bowl LVI and March Madness.

Back in April, Gov. Andrew Cuomo signed budget legislation for the 2022 fiscal year, which made New York the latest state to legalize mobile sports betting. However, the state is still months away from actually taking legal bets.

As for college sports, sports bettors will be allowed to place wagers on collegiate games as well as tournaments that are held in NY so long as no NY college is involved.

The most likely landscape of online sports betting in New York will be:
–A minimum of 4 skins will be launched statewide
–Revenue share with the state would range between 12% and over 50%
–A minimum of 2 licensed sports betting operators

Undoubtedly, the legalization of mobile sports betting is directly related to money. Given the fact that property tax revenues plunged by $2.5 billion, it can be said with certainty that New York needs the money.

If Andrew Cuomo’s plan works out as he hoped it would, iGaming could become the next topic for debate in New York in future years. As for now, sports enthusiasts that want to place a bet are bound to do it at a retail sportsbook.

Finally, if you want to know in more detail about what New York online gambling can provide, there are excellent 3rd party websites that would give you informed and balanced reviews and tested information.

How to Place Bets in New York?
Despite New York City being the largest metropolitan area by both square miles and population, downstaters must either go to upstate in order to place a bet in NY or wait for the launch of a legal online sportsbook.

There are only four commercial casinos and tribal casinos in the whole state and they are all located upstate. So, the options are pretty limited. With that in mind, it is no wonder why New Yorkers are so excited to finally have the option to place wagers on their favorite teams in the comfort of their homes.

Another option that New Yorkers have is to download a New Jersey or Pennsylvania sports betting app and place a bet. However, in order to do that, you must be at least 21 years old and physically located in one of these states.

Finally, if you decide to place bets online, make sure to be extra cautious and do everything that is in your power to avoid the cost of cybercrimes.

Most Asked Questions About Sports Betting in NYC
One of the most common questions about sports betting is whether you can use DraftKings Sportsbook to bet online in New York. The answer is no. In order to place bets, you must be located in New Jersey, Pennsylvania, or another accessible state.

However, what you can do is download the sportsbook app and register and make deposits and withdraw while located in New York.

Another frequently asked question about sports betting is whether you can play the FanDuel Sportsbook while located in New York. The answer is yet again no, no, you can not. The closest retail sportsbook to New York is at the Meadowlands in New Jersey.

Fellow New York sports enthusiasts are very excited but at the same time impatient about finally having the option to place their bets online from New York. And hopefully, they can expect online sportsbooks to launch in time for the Super Bowl.

Why is Legalizing Online Betting in NY a Good Thing?
If there’s one thing that can be said with certainty it’s that the technology has grown so much in such a short span of time that we are struggling to keep up with the pace of innovations. One of the biggest industries that have had a great impact on the world, due to technology, is the online gambling NY industry.

When you think about it, New York has a great potential to be the largest sports wagering market in the US, so why not take that chance?  Not to mention that there are New York residents that place their bets online through offshore sites, which results in money moving out of the stand and the country.

Legalizing online betting sites allows for economic growth through tax revenues, reduces the number of people betting on offshore sites, provides revenue avenues to tackle addiction, and promotes fair and responsible gambling.

Finally, from cryptocurrencies to VR games and iGaming, technology is constantly evolving and we are very excited to see what is next in store for the Empire State regarding online gambling.