First four operators to launch legal online sports betting in New York from Saturday
The regulatory clearance has come at a great time for the four firms, all of which will now be open for business during the final week of regular season NFL games and more importantly, the upcoming play-offs and Super Bowl – America’s biggest sporting event.
BREAKING: Mobile sports betting in New York will officially go live this Saturday at 9 am.
New York has more than 20 million residents and will immediately become the largest online sports betting market in the United States.
It's about time.
— Joe Pompliano (@JoePompliano) January 6, 2022
Five further US sports betting companies were previously awarded a New York mobile sports betting licence but have not yet been given permission to launch by the regulator. These are BetMGM, Bally Bet, WynnBet, PointsBet and Resorts World.
The NYS Gaming Commission said in a statement: “The remaining five conditionally licensed mobile sports wagering operators continue to work towards satisfying statutory and regulatory requirements necessary to launch and will be approved on a rolling basis when requirements are met.”
Rush Street Interactive CEO Richard Schwartz said New York’s sports fans will now have “endless opportunities at their fingertips”. He added: “The long-awaited launch of online and mobile sports betting in New York – the largest online sports betting market by population in the United States – is here, and just in time.”
New York officials are hoping to generate $500m in an annual sports betting tax revenue and have set the steepest tax rate of any US sports betting market so far at 51% of GGR. The state has already received $200m in operator licence fees.